In IR-2010-090, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2010 would remain unchanged from the third 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.

Revenue Ruling 2010-21 Contains Official Rate Announcement

The IRS will publish the rates in Revenue Ruling 2010-21. Contact Vision Payroll if you have any questions on the fourth quarter rates.