IRS Reveals Interest Rates for Underpayment of Taxes for Q2 2024

Published on February 23, 2024

The Internal Revenue Service (IRS) has announced what its various interest rates will be for the second quarter of 2024, including the rate applied for underpayment of taxes. The Internal Revenue Code requires that the tax agency calculate and make public the rate of interest for overpayment and underpayment of taxes every quarter. The interest rates are calculated from the federal short-term rate determined in January 2024, in line with the latest revenue ruling. Accordingly, the IRS said in a Feb. 21 notice that, for the calendar quarter beginning on April 1, 2024, the interest rates will remain the same as for the prior quarter. For individual taxpayers, the rate for overpayments and underpayments will be 8 percent per year, compounded daily....

Continue reading on website
Other news

Fitness Expert Jillian Michaels Blames Gov. Newsom for Her Reasons for Leaving California

February 23, 2024
Jillian Michaels, a fitness expert and media personality, recently told comedian Bill Maher she left California for Florida over Gov. Gavin Newsom’s “woke” policies.“It feels less crazy than it does here,” she said on “Club Random with Bill Maher.”Ms. Michaels said her home being broken into by a suspect with three offenses, who was later released based on Democrat Mr. Newsom’s soft-on-crime polic

S&P 500, Dow Jones Headed for Fresh Records Spurred by AI Rally

February 23, 2024
Stocks are hovering in record territory, fueled by Nvidia Corp.’s monster earnings report following the Feb. 21 closing bell and investors pricing in the Federal Reserve cutting interest rates later this year.The Dow Jones Industrial Average edged up 0.1 percent to 39,100. The benchmark S&P 500 Index tacked on 0.1 percent to 5,090. The tech-heavy Nasdaq Composite Index slipped 0.15 percent to 16,0