The IRS announced last week that the interest rates for the fourth quarter will decrease beginning October 1, 2011.
The rates will be as follows :
- 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
- zero and one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.
