Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax over-payments will remain the same for the second quarter of 2017 (April 1 through June 30). Therefore, the rates will be the following:

For individuals:

  • 4% charged on underpayments
  • 4% paid on over-payments.

For corporations:

  • 4% charged on underpayments
  • 3% paid on over-payments.
  • 6% charged on large corporate underpayments.
  • 1.5% paid on the portion of a corporate over-payment exceeding $10,000.