IRS Announces Interest Rates for Underpayment of Taxes for Q1 2024

The Internal Revenue Service (IRS) has announced what its various interest rates for things like underpayment of taxes will be for the 1st quarter of 2024.

Internal Revenue Service (IRS) building in Washington on Oct. 16, 2023. Madalina Vasiliu/The Epoch Times

The Internal Revenue Service (IRS) has announced what its various interest rates will be for the first quarter of 2024, which include the rate applied for underpayment of taxes.

Under the Internal Revenue Code, the IRS is required to determine the rate of interest for overpayment and underpayment of taxes on a quarterly basis.