The Internal Revenue Service’s interest rates- the amount paid or charged for under or over-payments – will remain the same third quarter of 2024, the tax agency announced.

For individuals, rates for overpayments and underpayments will be 8% per year, compounded daily. Starting April 1:

• 8% for overpayments (payments made in excess of the amount owed), 7% for corporations.
• 5.5% for the portion of a corporate overpayment exceeding $10,000.
• 8% for underpayments (taxes owed but not fully paid).
• 10% for large every quartercorporate underpayments.

IRS interest rates are determined quarterly and adjusted based on inflation.

For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. For most corporations, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points.