Interest Rates Remain the Same for the First Quarter of 2012
Interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. 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 $10,000.
The 3 percent rate also applies to estimated tax underpayments for the first calendar quarter in 2012 and for the first 15 days in April 2012.
Tax Guru - Ker$tetter Letter 