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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Experience:  15years with H & R Block. Divisional leader, Instructor
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What is the IRS interest rate due on 1040 returns?

Customer Question

what is the IRS interest rate for 2015 for balance due on 1040 returns?
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello

Interest charged on any unpaid tax compounds daily from the due date of the return (without regard to any extension of time to file) until the date of payment. That would run then from April 15th to the actual payment date.

The federal short-term rate is determined every three months.

Currently, the IRS interest rate for underpayments of tax is 3% per year.

Here is a calculator for that if you wish

https://www.irscalculators.com/IRS-penalty-calculator.php

Expert:  Robin D. replied 1 year ago.

If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.

Expert:  Robin D. replied 1 year ago.

Please advise if the link was helpful.

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