The IRS has announced that the interest rates for overpaid and underpaid tax will not be changed for the fourth quarter of the year beginning 1 October 2014. The rates are 3% for both underpayment and overpayment by individuals, and 2% and 3% for corporate overpayments and underpayments respectively. The rate for corporate overpayment exceeding USD 10,000 in a tax period will remain at 0.5%.

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