IRS Issues Revenue Ruling on Section 6621 - Determination of Rate of Interest
May 27, 2026
May 27, 2026
WASHINGTON, May 27 -- The Internal Revenue Service issued the following revenue ruling (No. 2026-10) on May 26, 2026, entitled "Section 6621 - Determination of Rate of Interest".
* * *
Section 6621 of the Internal Revenue Code establishes the interest rates on overpayments and underpayments of tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corporation) . . .
* * *
Section 6621 of the Internal Revenue Code establishes the interest rates on overpayments and underpayments of tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corporation) . . .