In IR-2009-107, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2010 would remain unchanged from the fourth quarter. The rates are as follows:

• Four (4) percent for overpayments [three (3) percent in the case of a corporation];
• Four (4) percent for underpayments;
• Six (6) percent for large corporate underpayments; and
• One and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000.

The IRS will publish the rates in Revenue Ruling 2009-37. Contact Vision Payroll if you have any questions on the first quarter rates.