IRS Rev. Rul.: Underpayment, Overpayment Interest Rates Remain the Same for 3rd Quarter of 2024 (IRC §6621)

Rates for interest determined under I.R.C. §6621 for the calendar quarter beginning July 1, 2024, will be 8% for overpayments (7% in the case of a corporation), 8% for underpayments, and 10% for large corporate underpayments, the IRS announced. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 5.5%, the IRS noted. [Rev. Rul. 2024-11, 2024-24 I.R.B. __ (June 10, 2024)]

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