Rev. Rul. 2020-18: Interest rates, tax overpayments and underpayments (fourth quarter 2020)
Interest rates, tax overpayments and underpayments
The IRS today released an advance version of Rev. Rul. 2020-18 to provide the rates of interest with regard to tax overpayments and tax underpayments for the calendar quarter beginning October 1, 2020.
There are no changes from the rates of interest that applied for the third quarter 2020.
Rev. Rul. 2020-18 [PDF 575 KB] lists the interest rates for the calendar quarter beginning October 1, 2020, as follows:
- 5% for large corporate underpayments
- 3% for underpayments
- 2% for overpayments by a corporate taxpayer
- 0.5% for the portion of a corporate overpayment exceeding $10,000
- 3% for overpayments
Read a related IRS release—IR-2020-202
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