Interest rates decrease for the 3rd quarter of 2019
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Wednesday, June 12, 2019

Interest rates decrease for the 3rd quarter of 2019

By Payroll and Entitlements Editorial Staff

The IRS has announced that interest rates will decrease for the third quarter of 2019, beginning July 1, 2019. The interest rates will be 5% for overpayments (4% in the case of a corporation) and underpayments, 7% for large corporate underpayments and 2.5% for the portion of a corporate overpayment exceeding $10,000. The interest rates are computed by using the federal short-term rate based on daily compounding determined during April 2019. The rate of interest is determined on a quarterly basis. (IRS News Release IR-2019-103 June 5, 2019; Rev. Rul. 2019-15, IRB 2019-26, June 24, 2019.)

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