Skip to main content
 
 
 
 
Taxpayer Answer Center

Quick Links

Information For

About IDOR

Got Questions?

What is the current interest rate?

Answer #661 -- ( Published 02/20/2007 02:37 PM | Updated 07/12/2017 10:40 AM )

What is the current interest rate?

For interest accruing on or after January 1, 2004, the rate of interest payable on overpayments and underpayments is the "short-term federal rate" for the first year that the overpayment or underpayment accrues interest. This rate is established by the IRS under the IRC Section 6621, and is 3 percent less than the "underpayment rate" (or 0 percent, whichever is greater). After one year, interest will accrue on any remaining balance at the "underpayment rate," as established under IRC Section 6621. Please visit our Current Interest Rate page on our website for a list of the most current rates.

Answers others found helpful


Submit a question

:
:

: