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Interest rates remain unchanged for the calendar quarter beginning Oct. 1, the Internal Revenue Service reported.

The rates will be:

• 4 percent for overpayments (3 percent in the case of a corporation);
• 1.5 percent for the portion of a corporate overpayment exceeding $10,000;
• 4 percent for underpayments; and,
• 6 percent for large corporate underpayments. 

The rate of interest is determined quarterly. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus three percentage points. 

For corporations, the underpayment rate is generally the federal short-term rate plus three percentage points and the overpayment rate is the federal short-term rate plus two percentage points.

The rate for large corporate underpayments is the federal short-term rate plus five percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.

Revenue Ruling 2016-23, announcing the rates of interest, will appear in Internal Revenue Bulletin 2016-39, dated Sept. 26. 

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