IRS Interest Rates Decrease for the Third Quarter of 2020

The IRS announced today that IRS interest rates will decrease for the third quarter of 2020 to 3% for most from 5%:

  • three (3) percent for overpayments [two (2) percent in the case of a corporation];
  • one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000;
  • three (3) percent for underpayments; and
  • five (5) percent for large corporate underpayments.

The IRS press release is here; the official Revenue Ruling is here.


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