On 14 March 2016, the IRS announced that the interest rates for overpaid and underpaid tax will not be changed for the second quarter of the year beginning 1 April 2016. The rates are 3% for both underpayment and overpayment by individuals, and 2% and 3% for corporate overpayments and underpayments respectively. The rate for a corporate overpayments exceeding USD 10,000 in a tax period will remain 0.5% on the portion exceeding that amount, and the rate for large corporate underpayments exceeding USD 100,000 will remain at 5%.