Interest on A Refund Claim

Interest on A Refund Claim

Interest on A Refund Claim means (see more about entries related to interest in the U.S. here)

Interest On A Refund Claim (overpayment Rate) is an interest due the taxpayer when the U.S. Internal Revenue Service issues a refund, such as for the application of a net operating loss carryback, or as a result of a tax dispute where taxes have been paid in excess of the determined liability. The rate is figured as the short-term applicable federal rate plus 2 percentage points, adjusted quarterly. Former IRC (check if this IRC provision is current here) §6621(a)(l).

See also other Tax Terms and Definitions in U.S.A.

applicable federal rate; compare underpayment rate.

Interest on A Refund Claim means (see more about entries related to interest in the U.S. here)

interest figured at the short-term applicable federal rate plus 2 percentage points, adjusted quarterly. Former IRC (check if this IRC provision is current here) §6621(a)(l).


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