E-Alert
August 30, 2011
IRS Lowers Fourth Quarter Interest Rates
The Internal Revenue Service announced a decrease in interest rates charged for late payments. The IRS charges interest compounded daily on late tax payments. The interest rates are determined at the beginning of each financial quarter, and may increase, decline or remain the same.
For the calendar quarter beginning Oct. 1, 2011 the rates will be:
3% for overpayments (2% in the case of a corporation)
3% for underpayments
5% for large corporate underpayments
0.5% for the portion of a corporate overpayment exceeding $10,000
####
If you have any questions regarding this issue, please contact the DZH Phillips Tax Department at (415) 781-2500 or email cpas@dzhphillips.com.
More e-Alerts, updates & articles »
DZH Phillips LLP is one of the leading public accounting and strategic consulting firms in the San Francisco Bay Area. We provide the long-term relationships, industry expertise, and consistently high-quality service our clients need to make the right decisions today and in the future.
To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained herein (including any enclosures or attachments) was not intended or written to be used, and cannot be used, by the taxpayer for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code or applicable state or local law provisions.
For the Media:
DZH Phillips has experts on staff to provide information on a variety of subjects related to tax planning, accounting, and estate planning. We can provide:
• Expert opinions
• Articles
• Tips and advice
Please contact:
T (415) 781-2500
E cpas@dzhphillips.com