Interest Rates Increase for the Fourth Quarter 2008 The IRS announced that interest rates for the calendar quarter beginning October 1, 2008, will rise by a full percentage point. The interest rates are: 6 % for overpayments (5 percent in the case of a corporation);...
IRS Drops Interest Rates The Internal Revenue Service announced June 2, 2008 that interest rates for the calendar quarter beginning July 1, 2008, will drop by one percentage point. The new rates will be: five (5) percent for overpayments [four (4) percent in the case...
The US Supreme Court has ruled the US Tax Court is the proper court for appeals of IRS denials of interest abatements. The Court held the Court of Federal Claims did not have concurrent jurisdiction. The complete decision is Hink v. US. see: http://www.TaxEsq.com
