The IRS announces the good news regarding the unchanged interest rates in the beginning of the year 2016.
Since the interest rates are established on quarterly basis under the Internal Revenue Code, Tax Help MD provides accurate solutions to all tax payers who face tax problems ranging from tax returns, audit representations, IRS payment plans, payroll issues, injured spouse-relief program, filling of abatement forms and more.
Below are the authentic interest rate details to help tax payers find out accurate rates and solutions.
• 2% for overpayments (Corporation) and 3% interest rate for overpayments in general.
• 3% interest rates for all underpayments.
• For big corporate underpayments, the rates remain 5%
• Any corporate over payment above $10,000, the rates remain (0.5%)
Our experts at Tax Help MD bring you authentic interest rate details for a clear perspective. According to the guidelines, the underpayment rate for a corporation is the federal short-term rate, with addition to 3% points. Whereas the over payment rate for a corporation is federal short-term rate plus 2% points.
For big-scale corporate underpayments, the rate is federal short-term rate plus 5% points. However, within the taxable timeline, if the corporate over-payment of tax is above $10,000 the combined rate accumulates to the federal short-term rate plus 0.5% point.
For more information, feel free to get in touch with our experts if you have any taxation queries. Simply Dial 888-632-4506 and get FREE Consultation Now!
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