The IRS announced on May 27 that interest rates will remain the same for the calendar quarter beginning July 1.
The rates will be 3% for overpayments (2% in the case of a corporation), 0.5% for the portion of a corporate overpayment exceeding $10,000, 3% for underpayments and 5% for large corporate underpayments.
The IRS computes the interest rates from the federal short-term rate determined during April 2021 to take effect May 1, based on daily compounding. Read more.