Interest Rates Remain Unchanged for Q3

The IRS has informed business owners that interest rates for the 3rd quarter of 2023 will not change from previous rates. Normally, we would see an adjustment every few months to overpayment and underpayment rates, however, the IRS has determined that no change is necessary for the time being. The rates are as follows: 7% for overpayments for individuals, 6% for corporations; 4.5% for the overpayment of a corporation over $10,000; 7% for underpayment of estimated taxes; 9% for large corporate underpayments. Please refer to the IRS source for more information: https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-third-quarter-of-2023. If you have any further questions about interest rates, please reach out to us at 832-295-3353. We would love to help you.