![IRS_logo](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/06/IRS_logo.5ed942dfea289.png)
IRS Interest Rates to Decrease for Q3 2020
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.