
The IRS has released Bulletin 2024-37, detailing key updates for Q4 2024. This release includes revised interest rates for overpayments, underpayments, and corporate overpayments, beginning October 1, 2024.
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ADMINISTRATIVE
Rev. Rul. 2024-18, page 584.
Interest rates: underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning October 1, 2024, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 5.5 percent.