Underpaying Your Federal Taxes Just Got More Costly
Since October 2011, in general, taxpayers who underpaid their federal estimated taxes or other tax liabilities have incurred a very modest 3% annual interest charge on the underpayment.
Beginning April 1, 2016, that rate increases to a 4% annual rate – still modest, but 1/3 higher than before.
Contact your Dean Dorton advisor to learn more.