IRS announces 2021 first quarter interest rates in Revenue Ruling 2020-28
Let your finance team members know: They won’t have any new interest rates to contend with as we start the new year. IRS will hold the 2021 first quarter interest rates steady.
That’s according to IRS Revenue Ruling 2020-28.
The rates apply to your company’s federal tax payments from January through March. As a reminder, the IRS interest rates you’ll pay (or receive) remain:
- 2% for corporate overpayments
- 0.5% for the portion of a corporate overpayment exceeding $10,000
- 3% for underpayments, and
- 5% for large corporate underpayments.
Note: Those rates are based off the federal short-term rate, plus a specific number of percentage points.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Webinars
Provided by Yooz
White Papers
Provided by Personify Health
Further Reading
Excel financial formulas allow users to process accounting data quickly and easily. To use a financial formula in Excel, click on the â€...
In case your finance team had been in cruise control heading into year-end because IRS’s quarterly interest rates hadn’t change...
Fully integrated, automated payments! A dream goal for many CFOs and controllers. Imagine how much more mission-critical work finance staff...
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked...
Auditors sought a single principle for accounting of software costs. But after months of consideration, the Financial Accounting Standards ...
Late or slow payments continue to stall progress for today’s finance teams. These delays often stem from large organizations renegotiatin...
