IRS Interest Rates to Drop in 2009

Interest Rates Drop for the First Quarter of 2009

IR-2008-139, Dec. 10, 2008          

WASHINGTON – The Internal Revenue Service today announced in Revenue Ruling 2008-54 that interest rates for the calendar quarter beginning Jan. 1, 2009 will drop by one percentage point.  The new rates will be:

  • Five (5) percent for overpayments [four (4) percent in the case of a corporation];
  • Five (5) percent for underpayments;
  • Seven (7) percent for large corporate underpayments; and
  • Two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000.

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