IRS News Release  
October 26, 1990

Interest Rates for the Quarter
to Remain at Ten Percent

WASHINGTON - The Internal Revenue Service today announced that interest rates for the calendar quarter beginning January 1, 1991, will remain at ten percent for overpayments and eleven percent for underpayments.

Under the Tax Reform Act of 1988, the rate of interest is determined on a quarterly basis, and the rate on underpayments is one percent higher than the rate on overpayments. The rate announced today is computed from the federal short-term rate based on daily compounding determined during October 1990.

Rev. Rul. 90-94, announcing the new rates of interest, will appear in Internal Revenue Bulletin No. 1990-46, dated November 13, 1990.

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