By Payroll and Entitlements Editorial Staff
The IRS has announced that interest rates will remain the same for the second quarter of 2020, beginning April 1, 2020. 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. (IRS News Release IR-2020-46, February 28, 2020; Rev. Rul. 2020-17, IRB 2020-12, dated March 16, 2020.)
