Nov-22-2024 - We fixed a syntax error in the 2024 links to the IRS Revenue Rulings on the IRS website that provide quarterly interest rate information. These links are located in Legal and Procedural Updates and Interest Rates.

Oct-23-2024 - Our Table, Calculating the 2% Portion of Deferred Tax 1998 - 2025, is updated with the official figures for 2025. The maximum amount of tax deferred at the 2% rate will be $760,000.

Nov-10-2023 - Our Table, Calculating the 2% Portion of Deferred Tax 1998 - 2024, is updated with the official figures for 2024. The maximum amount of tax deferred at the 2% rate will be $740,000.

Oct-31-2022 - Our Table, Calculating the 2% Portion of Deferred Tax 1998 - 2023, is updated with the official figures for 2023. The maximum amount of tax deferred at the 2% rate will be $700,000.

Sep-26-2021 - Our Table, Calculating the 2% Portion of Deferred Tax 1998 - 2022, is updated with the projected figures for 2022. The maximum amount of tax deferred at the 2% rate will be $656,000.

May-13-2025 - IRS interest rates remain the same for the third quarter of 2025, beginning July 1. The regular non-corporate underpayment and overpayment interest rates remain 7%. See Revenue Ruling 2025-11.

Mar-12-2025 - IRS interest rates remain the same for the second quarter of 2025, beginning April 1. The regular non-corporate underpayment and overpayment interest rates remain 7%. See Revenue Ruling 2025-07.

Nov-21-2024 - IRS interest rates are reduced for the first quarter of 2025 beginning January 1. The regular non-corporate underpayment and overpayment interest rates will be 7%. See  Revenue Ruling 2024-25.

Aug-22-2024 - IRS interest rates remain the same for the fourth quarter of 2024 beginning October 1. The regular non-corporate underpayment and overpayment interest rates remain 8%. See  Revenue Ruling 2024-18.

May-13-2024 - IRS interest rates remain the same for the third quarter of 2024 beginning July 1. The regular non-corporate underpayment and overpayment interest rates remain 8%. See Revenue Ruling 2024-11.

Feb-21-2024 - IRS interest rates remain the same for the second quarter of 2024 beginning April 1. The regular non-corporate underpayment and overpayment interest rates remain 8%. See Revenue Ruling 2024-6.

Nov-21-2023 - IRS interest rates remain the same for the first quarter of 2024 beginning January 1. The regular non-corporate underpayment and overpayment interest rates remain 8%. See Revenue Ruling 2023-22.

Nov-10-2023 - IRS announced the 2024 inflation factors in Revenue Procedure 2023-34. The 2024 basic exclusion amount for determining the amount of unified credit is $13,610,000, and the "2-percent portion" under section 6601(j) is $1,850,000. The amount of tax deferred at the 2% rate is $740,000.

Aug-25-2023 - IRS interest rates increase for the fourth quarter of 2023 beginning October 1. The regular non-corporate underpayment and overpayment interest rates increase to 8%. See Revenue Ruling 2023-17.