Top NJ CPA Firm, PNF CPA shares important information about interest rates.
Industry: Business
60-plus aggregate years of accounting and tax experience, our team consists of CPAs, enrolled agents and professionals. We have extensive experience in retail, banking, real estate, healthcare, automotive and more.
East Brunswick, New Jersey, USA (PRUnderground) February 27th, 2019
PNF was founded upon expert financial models and keen insight gained from years of working with hedge funds and large corporations. We use these models every day to help businesses and organizations like yours benefit from the advantages built into the tax code.
In addition to our 60-plus aggregate years of accounting and tax experience, our team consists of CPAs, enrolled agents and professionals. We have extensive experience in retail, banking, real estate, healthcare, automotive and more.
Learn more about how we help businesses Accounting in all industries.
The interest rates will remain the same for the calendar quarter beginning April 1, 2019, as they were in the first quarter of 2019. The rates will be:
- 6 percent for overpayments [5 percent in the case of a corporation];
- 3.5 percent for the portion of a corporate overpayment exceeding $10,000;
- 6 percent for underpayments; and
- 8 percent for large corporate underpayments.
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 are 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 0.5 percent.
The interest rates announced today are computed from the federal short-term rate determined during January 2019 to take effect Feb. 1, 2019, based on daily compounding.
Call our team at PNF Certified Public Accountants to learn more about our services or to discuss your specific needs. You can reach us Info@PNFCPA.com or you may call us at
732-605-1529 or toll free at 888-785-5653.
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About PNF CPA
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