The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning April 1, 2019. The rates are:
• six (6) percent for individual overpayments (refunds)
• six (6) percent for individual underpayments (balance due)
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.