Interest rates on overpayments and underpayments of tax

02 Mar 2021 3:51 PM | Anonymous

Revenue Ruling 2021-06 provides the rates for interest determined under Section 6621 of the code for the calendar quarter beginning April 1, 2021, will be 3 percent for overpayments (2 percent in the case of a corporation), 3 percent for underpayments, and 5 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 0.5 percent.

Revenue Ruling 2021-06 will be  in IRB:  2021-12, dated March 22, 2021.


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