IRS has released quarterly interest rates for the first quarter of 2001. Interest rates for overpayment remain at 9%; for corporations the rate is at 8%.
Any corporate overpayment upwards of $10,000 will have an interest rate of 6.5%. The rate for underpayment is 9% for the first quarter. The corporate underpayment rate increases by 2% to 11%.
The underpayment and overpayment rate for most individual taxpayers is the federal short-term rate plus 3%. For corporations, the underpayment rate remains the same as individual taxpayers, but for overpayments the rate is the federal short-term rate plus 2%. For large corporations the underpayment rate is the federal short-term rate plus 5%.