According to their newest press release, the IRS is announced earlier today that interest rates for the first quarter of 2009 (beginning January 1, 2009) will drop by one percentage.
The new rates will be:
- Five (5) percent for overpayments [four (4) percent in the case of a corporation];
- Five (5) percent for underpayments;
- Seven (7) percent for large corporate underpayments; and
- Two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000.