Get Notice 2004-60 - Weighted Average Interest Rates Update. Weighted Average Interest Rate Update

The interest rate determined for fiscal year 2007 in ance with the above-quoted formula is 4.9351% which adjusted to the nearest 1/8 of 1% is 4-7/8%.

We'll continue to charge interest if you don't pay the balance you owe by the date requested in this enclosed notice. We charge interest on penalties for late filing, late paying, over or understating valuations, and substantially understating the tax you owe.

Failure-to-pay penalty is charged for failing to pay your tax by the due date. The late payment penalty is 0.5% of the tax owed after the due date, for each month or part of a month the tax remains unpaid, up to 25%. You won't have to pay the penalty if you can show reasonable cause for the failure to pay on time.

If you set up a monthly payment plan on your tax debt, the IRS will assess interest on your account. As of April 2023, the interest rate on payment plans is 7%. This is the federal fund's rate of 4.33% from January plus 3%, rounded to the nearest whole number. It was the same rate during the first quarter of 2023.

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2024. For individuals, the rate for overpayments and underpayments will be 8% per year, compounded daily.

1 Month Treasury Rate (I:1MTCMR) 1 Month Treasury Rate is at 5.55%, compared to the previous market day and 4.12% last year. This is higher than the long term average of 1.39%.

A weighted average interest rate is an average that is adjusted to reflect the contribution of each loan to the total debt. The weighted average multiplies each loan's interest rate by the loan balance and divides the sum by the total loan balance.

Generally, interest accrues on any unpaid tax from the due date of the return until the date of payment in full. The interest rate is determined quarterly and is the federal short-term rate plus 3 percent.