The IRS interest rates for the first quarter of 2012 (January through March 2012) have been released, and they are the same rates that are in effect for the fourth and final quarter of 2011.
The rates are:
- three (3) percent for overpayments [two (2) percent in the case of a corporation];
- three (3) percent for underpayments;
- five (5) percent for large corporate underpayments; and
- one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.
The 3 percent rate also applies to estimated tax underpayments for the first calendar quarter in 2012 and for the first 15 days in April 2012.