Monday, December 8, 2014

IR-2014-111: Interest Rates Remain the Same for the First Quarter of 2015



Bookmark and Share
IRS.gov Banner
IRS Newswire December 4, 2014

News Essentials

What's Hot
News Releases
IRS - The Basics
IRS Guidance
Media Contacts
Facts & Figures
Problem Alerts
Around The Nation
e-News Subscriptions

The Newsroom Topics

Multimedia Center
Noticias en EspaƱol
Radio PSAs
Tax Scams
The Tax Gap
Fact Sheets
IRS Tax Tips
Armed Forces
Latest News Home

IRS Resources

Compliance & Enforcement
Contact My Local Office
Filing Options
Forms & Pubs
Frequently Asked Questions
News
Taxpayer Advocate
Where to File
IRS Social Media

Issue Number: IR-2014-111

Inside This Issue


Interest Rates Remain the Same for the First Quarter of 2015
WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2015. The rates will be:
  • three (3) percent for overpayments (two (2) percent in the case of a corporation);
  • three (3) percent for underpayments;
  • five (5) percent for large corporate underpayments; and
  • one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.
The interest rates announced today are computed from the federal short-term rate determined during October 2014 to take effect Nov. 1, 2014, based on daily compounding.
Revenue Ruling 2014-29 announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin 2014-52, dated Dec. 22, 2014.
Back to Top

Thank you for subscribing to the IRS Newswire, an IRS e-mail service.
If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.
This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

No comments: