Baltimore Tax Lawyers

The IRS has announced adjusted interest rates for the first quarter of 2025. Effective January 1, 2025, the rates are:

7% for overpayments and underpayments (down from 8% in the prior quarter).
6% for corporate overpayments (down from 7% in the prior quarter).
4.5% for the portion of corporate overpayments exceeding $10,000 (down from 5.5% in the prior quarter).
9% for large corporate underpayments (down from 10% in the prior quarter).

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These rates reflect a decrease compared to the previous quarters, driven by changes in the federal short-term rate. Interest rates apply to various tax scenarios, including refunds, underpayments, and estimated tax penalties. For complete historical rates and additional information, visit the IRS's Quarterly Interest Rates page.

Understanding IRS interest rates is crucial for tax planning. Contact Frost Law today at (410) 497-5947 or fill out our contact form to schedule a consultation.

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IRS Announces Lower Interest Rates for Q1 2025

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