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Monday, September 05, 2005

Updated IRS Rates

September 2005 Applicable Federal Rates Summary (Rev.Rul. 2005-57):

-Short Term AFR - 3.9%
-Mid Term AFR - 4.19%
-Long Term AFR - 4.52%

October 2005 Quarter IRS Rates for Underpayments and Overpayments (Rev.Rul.2005-62):

- 7% for overpayments [6% in the case of a corporation]
- 7% for underpayments
- 9% for large corporate underpayments
- 4.5% for the portion of a corporate overpayment exceeding $10,000
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