IR-2014-70, Interest Rates Remain the Same for the Third Quarter of 2014

Bookmark and Share

IRS.gov Banner
IRS Newswire June 2, 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

Tax Tips 2012

Radio PSAs

Fact Sheets

Armed Forces

Disaster Relief

Scams / Consumer Alerts

Tax Shelters


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-2014-70

Inside This Issue

Interest Rates Remain the Same for the Third Quarter of 2014

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2014.  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 April 2014 to take effect May 1, 2014, based on daily compounding.

Revenue Ruling 2014-14 announcing the rates of interest will appear in Internal Revenue Bulletin 2014-27, dated June 30, 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.