No Change in Interest Rates for the Second Quarter of 2003

 

알림: 역사 콘텐츠


본 문서는 기록 자료 또는 역사 자료로서 현행 법이나 정책, 절차>를 반영하고 있지 않을 수 있습니다.

IR-2003-30, March 11, 2003

WASHINGTON – The Internal Revenue Service today announced that interest rates for the calendar quarter beginning April 1, 2003, will remain the same as the first quarter of the year. The interest rates are as follows:

  • five (5) percent for overpayments [four (4) percent in the case of a corporation];
  • five (5) percent for underpayments;
  • seven (7) percent for large corporate underpayments; and
  • two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 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.

The interest rates announced today are computed from the federal short-term rate based on daily compounding determined during January 2003.

Rev. Rul. 2003-30 PDF, announcing the rates of interest, will appear in Internal Revenue Bulletin No. 2002-13, dated March 31, 2003.

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