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Revenue Ruling 2025-11 provides interest rates for the third quarter 2025, including rates for underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning July 1, 2025, will be 7 percent for overpayments (6 percent in the case of a corporation), 7 percent for underpayments, and 9 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 4.5 percent.

Revenue Ruling 2025-11 will be in IRB 2025-23, dated June 2, 2025

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Interest rates remain the same for second quarter of 2025

WASHINGTON — The Internal Revenue Service announces that interest rates will remain the same for the calendar quarter beginning July 1, 2025.

For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the interest rates:

• 7% for overpayments (payments made in excess of the amount owed), 6% for corporations.
• 4.5% for the portion of a corporate overpayment exceeding $10,000.
• 7% for underpayments (taxes owed but not fully paid).
• 9% for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rates are equal to the federal short-term rate plus three percentage points.

Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus three percentage points and the overpayment rate is the federal short-term rate plus two percentage points. The rate for large corporate underpayments is the federal short-term rate plus five 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.

These interest rates are computed from the federal short-term rate determined during April 2025.

Revenue Ruling 2025-11 announcing the rates of interest will appear in Internal Revenue Bulletin 2025-23, dated June 2, 2025.

Issue Number:  IR-2025-55

Inside This Issue

IRS reminder: Protect important records in case a natural disaster strikes

WASHINGTON — The Internal Revenue Service reminds taxpayers that disaster preparation season kicks off soon with National Wildfire Awareness Month in May and National Hurricane Preparedness Week, May 4-10.

With tax season over and peak periods for disasters approaching, now is a good time for taxpayers to think about protecting important tax and financial information as part of a disaster emergency plan.

Disasters can have an immediate and lasting impact on individuals, organizations and businesses. Year-round preparation is important, and observing Hurricane Preparedness Week and Wildfire Awareness Month provides an opportunity for an annual assessment of readiness.

So far in 2025, the Federal Emergency Management Agency (FEMA) has issued 12 major disaster declarations in nine states impacted by winter storms, flooding, tornadoes, wildfires, landslides and mudslides. For current disaster declarations and information on how declarations are made, see FEMA’s Current Disasters page.

The IRS offers tips to help taxpayers protect personal financial and tax information when disaster hits.

Protect and make copies of important documents

Original documents such as tax returns, Social Security cards, marriage certificates, birth certificates and land ownership documents need to be secured in a waterproof container in a safe space. Taxpayers are also encouraged to make copies of these important documents and store them in a secondary location such as a safe deposit box or with a trusted person who lives in a different area. In addition, scanned documents can be stored on a flash drive for easy portability.

Keep a record of valuables

Taxpayers should use cell phones or other mobile devices to make a record of high-value items. A simple list with current photos or videos can help support claims for insurance or tax benefits after a disaster. The IRS disaster loss workbooks in Publication 584, Casualty, Disaster and Theft Loss Workbook (Personal-Use Property), and Publication 584-B, Business Casualty, Disaster and Theft Loss Workbook, can help individuals and businesses make lists of belongings or business equipment.

Rebuilding records

Reconstructing or replacing records after a disaster may be required for tax purposes, claiming federal assistance or insurance reimbursement. Accurate loss estimates could mean more loan and grant money may be available. Taxpayers who have lost some or all their records during a disaster should visit IRS’s Reconstructing Records webpage as a first step.

Employers should check fiduciary bonds

Disasters can impact a business’ ability to make timely federal tax deposits. Employers using payroll service providers should check if the provider has a fiduciary bond in place that can protect the employer in the event of default by the payroll service provider. The IRS reminds employers to choose their payroll service providers carefully.

IRS can provide tax relief after a disaster

After FEMA issues a major disaster or emergency measures declaration, the IRS may postpone certain tax filing and payment deadlines for taxpayers who reside or have a business in certain counties affected by the disaster. The IRS provides details on states and counties that have been issued relief on the IRS Disaster Relief page.

Taxpayers in the affected areas do not need to call to request this relief. The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. Those impacted by a disaster can contact the IRS Disaster Hotline at 866-562-5227 to ask their tax-related questions of an IRS specialist trained to handle disaster-related issues.

Taxpayers who do not reside or have a business in a covered disaster area but suffered impact from a disaster should call 866-562-5227 to find out if they qualify for disaster tax relief and to discuss other available options.

More disaster information

Taxpayers are encouraged to review publications and websites that may offer further assistance in advance preparation for disasters:

·         IRS.gov: Preparing for a disaster

·         IRS Publication 547, Casualties, Disasters, and Thefts

·         IRS Publication 583, Starting a Business and Keeping Records

·         FEMA.gov

·         Disasterassistance.gov

·         Ready.gov

 

 

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Issue Number:  2025-17 Inside This Issue Register now for the 2025 IRS Nationwide Tax Forum May 15 tax exempt filing deadline approaching Upcoming webinar for tax professionals 1.  Register now for the 2025 IRS Nationwide Tax Forum Tax professionals are invited to register for the upcoming IRS Nationwide Tax Forum. Each of the 2025 forums is a three-day event with seminars, workshops and networking opportunities. Attendees can maximize their time by participating in additional pre-forum events including the annual filing season refresher course and practice management session. Register today to ensure your space this summer in one of the five following cities: Chicago: July 1 – 3 New Orleans: Aug. 5 – 7 Orlando: Aug. 26 – 28 Baltimore: Sep 9 – 11 San Diego: Sep. 16 – 18 Visit IRS Nationwide Tax Forum for information and to take advantage of the Early Bird rate, which is available until June 10.  Back to top 2.  May 15 tax exempt filing deadline approaching To promote successful and timely tax exempt return filing, the IRS is highlighting key forms and topics as the May 15 deadline for tax-exempt organizations draws near. The yearly filing due date for certain returns filed by tax-exempt organizations is the fifteenth day of the fifth month after the end of an organization's accounting period. Those operating on a calendar year basis must file a return by May 15. Returns due include: Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF) Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ Form 990-T, Exempt Organization Business Income Tax Return (other than certain trusts) Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code The IRS also offers online workshops to help tax-exempt organizations comply with filing requirements. They also explain the benefits, limitations and expectations of exempt organizations. Back to top 3.  Upcoming webinar for tax professionals The IRS is presenting the webinar “Small Business, Big Tools: Resources from the IRS that will lead to Success” on May 8 at 2 p.m. ET. No continuing education is offered for this webinar. For more information or to register for the webinar, click here. Back to top                                       Thank you for subscribing to e-News for Tax Professionals an IRS e-mail service. If you have a specific concern about your client's tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the mailing list e-News for Tax Professionals. Please Do Not Reply To This Message To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS Web site.

WASHINGTON — As the May 15 filing deadline approaches for tax-exempt organizations, the Internal Revenue Service highlights important forms and topics to ensure successful and timely filing.

The annual filing due date for certain returns filed by tax-exempt organizations is the 15th day of the 5th month after the end of an organization's accounting period. Those operating on a calendar year basis must file a return by May 15. Returns due include:

• Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF).
• Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ.
• Form 990-T, Exempt Organization Business Income Tax Return (other than certain trusts).
• Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code.

Electronic filing

Electronic filing ensures acknowledgement that the IRS has received the return and reduces processing time, making it easy to comply with reporting requirements. Organizations should remember the following when e-filing:

• Organizations filing a Form 990, 990-EZ, 990-PF or 990-T for calendar year 2023 must file their returns electronically.
• Private foundations filing a Form 4720 for calendar year 2023 must file the form electronically.
• Charities and other tax exempt organizations can file these forms electronically through an IRS Authorized e-File Provider.
• Organizations eligible to submit a Form 990-N must do so electronically and can submit it through Form 990-N (e-Postcard) on IRS.gov.

Common errors

The IRS encourages organizations to thoroughly review their forms to avoid common errors such as missing or incomplete schedules. If an organization’s return is incomplete or is the wrong return for the organization, the return will be rejected.

Extension requests

Tax-exempt organizations may request a six-month automatic extension by filing a Form 8868, Application for Extension of Time to File an Exempt Organization Return. In situations where tax is due, extending the time for filing a return does not extend the time for paying tax.

Online workshops

The IRS provides online workshops to help tax-exempt organizations comply with filing requirements. These workshops are designed to help organizational leadership understand the benefits, limitations and expectations of exempt organizations.

Attention: Software Developers and Information Return Transmitters

Tax Year 2024 IRIS schema and business rules v1.1 are available through the SOR mailbox. There are no changes to schema or business rules.

Tax Year 2023 IRIS Schema and Business Rules are available. There are no changes to TY2023 Schema v1.0 or Business Rules in v1.2.

Software Developers and State organizations may download IRIS schemas and Business Rules from their e-Services mailbox. To access these files, you must have:

• An active e-Services account
• An IRIS TCC application with the status “Completed”
• An IRIS TCC status of “Active”
• An IRIS role of “Software Developer” or business structure of “State Government Agency”, “Local Government Agency”, or “Federal Government Agency”

You may have several messages in your account. Please open all of them to find the set you would like to download. After 60 days the messages are purged.

Please visit the IRIS Schemas and Business Rules page on IRS.gov for more information about IRIS Schemas and Business Rules.

WASHINGTON — The Internal Revenue Service Whistleblower Office released its first-ever multi-year operating plan outlining guiding principles, strategic priorities, recent achievements and current initiatives to advance the IRS Whistleblower Program. 

The IRS Whistleblower Office administers claims from whistleblowers that identify taxpayers who may not be complying with tax laws or other laws the IRS administers, enforces or investigates. 

“The IRS Whistleblower Office Operating Plan incorporates extensive feedback received from whistleblowers, whistleblower practitioners, IRS employees, oversight bodies and other program stakeholders,” said IRS Whistleblower Office Director John Hinman. “Whistleblower information that the IRS can act on is an important component of effective tax administration as it bolsters the fair, efficient and effective enforcement of our nation’s tax laws, the success of our voluntary tax system and our efforts to reduce the tax gap.” 

The plan reflects a multi-year approach to improving processes and operations, expanding collaboration and outreach and integrating valuable stakeholder feedback. 

The operating plan is framed around six strategic priorities: 

1. Enhance the claim submission process to promote greater efficiency.
2. Use high-value whistleblower information effectively.
3. Award whistleblowers fairly and as soon as possible.
4. Keep whistleblowers informed of the status of their claims and the basis for IRS decisions on claims.
5. Safeguard whistleblower and taxpayer information.
6. Ensure that our workforce is supported with effective tools, technology, training and other resources. 

Within these six strategic priorities, there are 38 initiatives addressing short-term and long-term focus areas to advance the program. Some of the initiatives will require completion of detailed, specific activities while other initiatives are broad. The plan identifies areas of significant importance while allowing flexibility to address other concerns that may arise. 

The IRS is committed to continuous improvement of the Whistleblower Program through ongoing collaboration with program stakeholders. 

Assistance from whistleblowers 

The IRS appreciates the valuable assistance it receives from whistleblowers and the whistleblower practitioner community. An effective whistleblower program provides an invaluable deterrence against non-compliance with tax laws, and whistleblower information significantly boosts revenues while improving tax fairness. 

Since the inception of the IRS Whistleblower Office in 2007, the Whistleblower Office has made awards of over $1.3 billion based on the collection of more than $7 billion attributable to whistleblower information. In fiscal year 2024, the IRS paid awards totaling $123.5 million based on tax and other amounts collected of $474.7 million attributable to whistleblower information. The total dollar amount of awards paid in fiscal year 2024 was the third highest in the program’s history. The awards paid to whistleblowers generally range between 15% and 30% of the proceeds collected and attributable to their information. 

Individuals with specific, timely, credible, relevant and significant information regarding non-compliance with any laws the IRS is authorized to administer, enforce or investigate are encouraged to consider filing a Form 211, Application for Award for Original Information, to be considered for an award. 

Revenue Ruling 2025-10 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by § 1274. 

The rates are published monthly for purposes of sections 42, 382, 412, 642, 1288, 1274, 7520, 7872, and various other sections of the Internal Revenue Code.

Revenue Ruling 2025-10 will be in IRB:  2025-19, dated 05/05/2025.

IR-2025-51, April 16, 2025

WASHINGTON — The Internal Revenue Service encourages taxpayers who missed the filing deadline to submit their tax return as soon as possible. Those who missed the deadline to file but owe taxes should file timely to avoid additional penalties and interest.

Taxpayers should keep in mind that requesting an extension allows for additional time to file but not to pay taxes owed. Individuals who owe taxes should file their tax return and pay as soon as they can. Interest and penalties will continue to accrue on the owed taxes until the balance is paid in full.

File and pay to limit penalties and interest

Even if a taxpayer cannot afford to immediately pay the full amount of taxes owed, they should still file a tax return and pay as much as possible. The IRS offers options for taxpayers who need help paying their tax bill. For more information, visit the Penalties page on IRS.gov.

Taxpayers may qualify for penalty relief if they have filed and paid timely for the past three years and meet other important requirements. For more information, see the Administrative Penalty Relief page on IRS.gov.

Online payment options

Individuals can pay taxes owed securely through IRS Online Account, IRS Direct Pay, The Electronic Federal Tax Payment System (EFTPS), debit or credit card or digital wallet. Taxpayers may also apply online for a payment plan (including installment agreements).

Those who pay electronically get immediate confirmation after submitting payment. Direct Pay and the EFTPS allow taxpayers to receive payment email notifications. Find additional payment information at Make a Payment on IRS.gov.

Due for a refund? Don’t overlook filing a tax return

There's no penalty for filing after the April 15 deadline if a refund is due. Every year, the IRS estimates nearly a million taxpayers who failed to file prior year tax returns are potentially due refund money.

Taxpayers who choose not to file a return because they don't earn enough to meet the filing requirement may miss out on receiving a refund due to potential refundable tax credits. Examples include the Earned Income Tax Credit and Child Tax Credit. Taxpayers sometimes fail to file a tax return and claim a refund for these credits and others for which they may be eligible.

Taxpayers can track their refund using the Where's My Refund? tool on IRS.gov, on the IRS2Go mobile app or by calling the automated refund hotline at 800-829-1954. To use the Where's My Refund? tool, taxpayers need the primary Social Security number on the tax return, the filing status and the expected refund amount. The refund status information updates once daily.

Taxpayers who still need to file for the 2024 tax year are encouraged to take advantage of electronic filing options such as IRS Free File, which is available on IRS.gov through Oct. 20, or IRS Direct File, available to qualified taxpayers in 25 states.

Choose a trusted tax professional

Taxpayers who have yet to file a return might consider seeking assistance from a tax preparer. The IRS provides resources if they need someone to prepare a tax return. The Directory of Federal Tax Return Preparers with Credentials and Select Qualifications can help taxpayers find tax return preparers with professional certifications recognized by the IRS or who have completed the IRS requirements for the Annual Filing Season Program.

Taxpayer Bill of Rights

Taxpayers have fundamental rights under the law that protect them when interacting with the IRS. The Taxpayer Bill of Rights divides them into 10 categories. IRS Publication 1, Your Rights as a Taxpayer, reiterates these rights along with the agency's obligation to protect them.

WASHINGTON – On this Tax Day, the Internal Revenue Service marks a major milestone: the 70^th Anniversary of the April 15 federal income tax filing deadline. Since 1955, April 15 has served as a consistent annual deadline for millions of Americans to file their federal income tax returns, becoming a fixture in the nation’s financial calendar. 

The deadline was moved to April 15 from March 15 in 1955 to give taxpayers and the IRS more time to prepare and process increasingly complex returns. Since then, innovations in technology and customer service have transformed the tax filing experience from hand-prepared paper forms to modern e-filing and online tools that make the process faster, more secure and more accessible. In 2024, more than 144 million individual tax returns were filed with more than 96% submitted electronically. 

Despite the changes, one thing has remained the same: the importance of meeting the annual filing deadline. Most taxpayers must file by midnight tonight. Those who need more time can still request an extension until Oct. 15 – though any taxes owed must be paid by April 15 to avoid penalties and interest. 

For more information on filing options, taxpayer assistance, available credits and deductions, visit IRS.gov.