The IRS has announced that the interest rates for the calendar quarter beginning July 1, 2005 will continue at the same level as for the previous quarter, as follows:

• 6% for overpayments (5% in the case of a corporation)
• 6% for underpayments
• 8% for large corporate underpayments
• 3.5% for the portion of a corporate overpayment exceeding $10,000.

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...back to 9 June 2005


Further information:
Treasury and IRS Issue Guidance on Personal Use of Corporate Aircraft
Deductions for Entertainment Use of Business Aircraft