May 17, 1990
Quarterly Interest Rates to Remain the Same
WASHINGTON - The Internal Revenue Service today announced that
interest rates for the calendar quarter beginning July 1, 1990,
will remain at ten percent for overpayments and eleven percent
Under the Tax Reform Act of 1986, the rate of interest is
determined on a quarterly basis, and the rate on underpayments is
one percent higher than the rate on overpayments. The rate
announced today is computed from the federal short-term rate based
on daily compounding determined during April 1990.
Rev. Rul. 90-47, announcing the new rates of interest is
announced and will appear in Internal Revenue Bulletin No. 1990-23,
dated June 4, 1990.
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