The IRS has announced that the interest rates for overpaid and underpaid tax will not be changed for the third quarter of the year beginning 1 July 2014. The rates are 3% for both underpayment and overpayment by individuals, and 2% and 3% for corporate overpayments and underpayments respectively. In addition, the rate for corporate overpayment exceeding USD 10,000 in a tax period will remain at 0.5%. Large corporations, those with USD 1 million or more in taxable income in any of the previous three years, are subject to 5% rates for underpayment of tax. The large corporate rate is...