Code Sec. 6621
<<FULL TEXT>>
26 CFR 301.6621-1: Interest rate.
Interest rates; underpayments and overpayments. The rate of
interest
determined under section 6621 of the Code for the calendar
quarter
beginning July 1, 2001, will be 7 percent for overpayments
(6 percent in
the case of a corporation), 7 percent for underpayments, and
9 percent for
large corporate underpayments. The rate of interest paid on
the portion of
a corporate overpayment exceeding $10,000 will be 4.5
percent.
REV. RUL. 2001-32
Section 6621 of the Internal Revenue Code establishes the
rates for
interest on tax overpayments and tax underpayments. Under
section
6621(a)(1), the overpayment rate beginning July 1, 2001, is
the sum of the
federal short-term rate plus 3 percentage points (2
percentage points in
the case of a corporation), except the rate for the portion
of a corporate
overpayment of tax exceeding $10,000 for a taxable period is
the sum of
the federal short-term rate plus 0.5 of a percentage point
for interest
computations made after December 31, 1994. Under section
6621(a)(2), the
underpayment rate is the sum of the federal short-term rate
plus 3
percentage points.
Section 6621(c) provides that for purposes of interest
payable under
section 6601 on any large corporate underpayment, the
underpayment rate
under section 6621(a)(2) is determined by substituting "5
percentage
points" for "3 percentage points." See section 6621(c) and
section
301.6621-3 of the Regulations on Procedure and
Administration for the
definition of a large corporate underpayment and for the
rules for
determining the applicable date. Section 6621(c) and section
301.6621-3
are generally effective for periods after December 31, 1990.
Section
6621(b)(1) provides that the Secretary will determine the
federal
short-term rate for the first month in each calendar quarter
Section
6621(b)(2)(A) provides that the federal short-term rate
determined under
section 6621(b)(1) for any month applies during the first
calendar quarter
beginning after such month.
Section 6621(b)(3) provides that the federal short-term rate
for any
month is the federal short-term rate determined during such
month by the
Secretary in accordance with section 1274(d), rounded to the
nearest full
percent (or, if a multiple of 1/2 of 1 percent, the rate is
increased to
the next highest full percent).
Notice 88-59, 1988-1 C.B. 546, announced that, in
determining the
quarterly interest rates to be used for overpayments and
underpayments of
tax under section 6621, the Internal Revenue Service will
use the federal
short-term rate based on daily compounding because that rate
is most
consistent with section 6621 which, pursuant to section
6622, is subject
to daily compounding.
Rounded to the nearest full percent, the federal short-term
rate based
on daily compounding determined during the month of April
2001 is 4
percent. Accordingly, an overpayment rate of 7 percent (6
percent in the
case of a corporation) and an underpayment rate of 7 percent
are
established for the calendar quarter beginning July 1, 200
1. The
overpayment rate for the portion of a corporate overpayment
exceeding
$10,000 for the calendar quarter beginning July 1, 2001, is
4.5 percent.
The underpayment rate for large corporate underpayments for
the calendar
quarter beginning July 1, 2001, is 9 percent. These rates
apply to amounts
bearing interest during that calendar quarter.
Interest factors for daily compound interest for annual
rates of 4.5
percent, 6 percent, 7 percent, and 9 percent are published
in Tables 14,
17, 19, and 23 of Rev. Proc. 95-17, 1995-1 C.B. 556, 568,
571, 573, and
577.
Annual interest rates to be compounded daily pursuant to
section 6622
that apply for prior periods are set forth in the tables
accompanying this
revenue ruling.
DRAFTING INFORMATION
The principal author of this revenue ruling is Raymond
Bailey of the
Office of Associate Chief Counsel (Procedure &
Administration),
Administrative Provisions & Judicial Practice Division. For
further
information regarding this revenue ruling, contact Mr.
Bailey at (202)
622-6226 (not a toll-free call).
TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 -- PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
DAILY RATE TABLE
PERIOD RATE IN 1995-1 C.B.
------ ---- ----------------
Before Jul. 1, 1975 6% Table 2, pg. 557
Jul. 1, 1975--Jan. 31, 1976 9% Table 4, pg. 550
Feb. 1, 1976--Jan. 31, 1978 7% Table 3, pg. 558
Feb. 1, 1978--Jan. 31, 1980 6% Table 2, pg. 557
Feb. 1, 1980--Jan, 31, 1982 12% Table 5, pg. 560
Feb. 1, 1982--Dec. 31, 1982 20% Table 6, pg. 560
Jan. 1, 1983--Jun. 30, 1983 16% Table 37, pg. 591
Jul. 1, 1983--Dec. 31, 1983 11% Table 27, pg. 581
Jan. 1, 1984--Jun. 30, 1984 11% Table 75, pg. 629
Jul. 1, 1984--Dec. 31, 1984 11% Table 75, pg. 629
Jan. 1, 1985--Jun. 30, 1985 13% Table 31, pg. 585
Jul. 1, 1985--Dec. 31, 1985 11% Table 27, pg. 581
Jan. 1, 1986--Jun. 30, 1986 10% Table 25, pg. 579
Jul. 1, 1986--Dec. 31, 1986 9% Table 23, pg. 577
TABLE OF INTEREST RATES
FROM JAN. 1, 1987 -- DEC. 31, 1998
OVERPAYMENTS UNDERPAYMENTS
------------------ -----------------
TABLE TABLE
1995-1 1995-1
RATE C.B. PG RATE C.B. PG
---- ------ -- ---- ------ --
Jan. 1, 1987--Mar. 31, 1987 8% 21 575 9% 23 577
Apr. 1, 1987--Jun. 30, 1987 8% 21 575 9% 23 577
Jul. 1, 1987--Sep. 30, 1987 8% 21 575 9% 23 577
Oct. 1, 1987--Dec. 31, 1987 9% 23 577 10% 25 579
Jan. 1, 1988--Mar. 31, 1988 10% 73 627 11% 75 629
Apr. 1, 1988--Jun. 30, 1988 9% 71 625 10% 73 627
Jul. 1, 1988--Sep. 30, 1988 9% 71 625 10% 73 627
Oct. 1, 1988--Dec. 31, 1988 10% 73 627 11% 75 629
Jan. 1, 1989--Mar. 31, 1989 10% 25 579 11% 27 581
Apr. 1, 1989--Jun. 30, 1989 11% 27 581 12% 29 583
Jul. 1, 1989--Sep. 30, 1989 11% 27 581 12% 29 583
Oct. 1, 1989--Dec. 31, 1989 10% 25 579 11% 27 581
Jan. 1, 1990--Mar. 31, 1990 10% 25 579 11% 27 581
Apr. 1, 1990--Jun. 30, 1990 10% 25 579 11% 27 581
Jul. 1, 1990--Sep. 30, 1990 10% 25 579 11% 27 581
Oct. 1, 1990--Dec. 31, 1990 10% 25 579 11% 27 581
Jan. 1, 1991--Mar. 31, 1991 10% 25 579 11% 27 581
Apr. 1, 1991--Jun. 30, 1991 9% 23 577 10% 25 579
Jul. 1, 1991--Sep. 30, 1991 9% 23 577 10% 25 579
Oct. 1, 1991--Dec. 31, 1991 9% 23 577 10% 25 579
Jan. 1, 1992--Mar. 31, 1992 8% 69 623 9% 71 625
Apr. 1, 1992--Jun. 30, 1992 7% 67 621 8% 69 623
Jul. 1, 1992--Sep. 30, 1992 7% 67 621 8% 69 623
Oct. 1, 1992--Dec. 31, 1992 6% 65 619 7% 67 621
Jan. 1, 1993--Mar. 31, 1993 6% 17 571 7% 19 573
Apr. 1, 1993--Jun. 30, 1993 6% 17 571 7% 19 573
Jul. 1, 1993--Sep. 30, 1993 6% 17 571 7% 19 573
Oct. 1, 1993--Dec. 31, 1993 6% 17 571 7% 19 573
Jan. 1, 1994--Mar. 31, 1994 6% 17 571 7% 19 573
Apr. 1, 1994--Jun. 30, 1994 6% 17 571 7% 19 573
Jul. 1, 1994--Sep. 30, 1994 7% 19 573 8% 21 575
Oct. 1, 1994--Dec. 31, 1994 8% 21 575 9% 23 577
Jan. 1, 1995--Mar. 31, 1995 8% 21 575 9% 23 577
Apr. 1, 1995--Jun. 30, 1995 9% 23 577 10% 25 579
Jul. 1, 1995--Sep. 30, 1995 8% 21 575 9% 23 577
Oct. 1, 1995--Dec. 31, 1995 8% 21 575 9% 23 577
Jan. 1, 1996--Mar. 31, 1996 8% 69 623 9% 71 625
Apr. 1, 1996--Jun. 30, 1996 7% 67 621 8% 69 623
Jul. 1, 1996--Sep. 30, 1996 8% 69 623 9% 71 625
Oct. 1, 1996--Dec. 31, 1996 8% 69 623 9% 71 625
Jan. 1, 1997--Mar. 31, 1997 8% 21 575 9% 23 577
Apr. 1, 1997--Jun. 30, 1997 8% 21 575 9% 23 577
Jul. 1, 1997--Sep. 30, 1997 8% 21 575 9% 23 577
Oct. 1, 1997--Dec. 31, 1997 8% 21 575 9% 23 577
Jan. 1, 1998--Mar. 31, 1998 8% 21 575 9% 23 577
Apr. 1, 1998--Jun. 30, 1998 7% 19 573 8% 21 575
Jul. 1, 1998--Sep. 30, 1998 7% 19 573 8% 21 575
Oct. 1, 1998--Dec. 31, 1998 7% 19 573 8% 21 575
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 -- PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1999-Mar. 31, 1999 7% 19 573
Apr. 1, 1999-Jun. 30, 1999 8% 21 575
Jul. 1, 1999-Sep. 30, 1999 8% 21 575
Oct. 1, 1999-Dec. 31, 1999 8% 21 575
Jan. 1, 2000-Mar. 31, 2000 8% 69 623
Apr. 1, 2000-Jun. 30, 2000 9% 71 625
Jul. 1, 2000-Sep. 30, 2000 9% 71 625
Oct. 1, 2000-Dec. 31, 2000 9% 71 625
Jan. 1, 2001-Mar. 31, 2001 9% 23 577
Apr. 1, 2001-Jun. 30, 2001 8% 21 575
Jul. 1, 2001-Sep. 30, 2001 7% 19 573
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 -- PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTS UNDERPAYMENTS
------------------ ------------------
TABLE TABLE
1995-1 1995-1
RATE C.B. PG RATE C.B. PG
---- ------ -- ---- ------ --
Jan. 1, 1999--Mar. 31, 1999 6% 17 571 7% 19 573
Apr. 1, 1999--Jun. 30, 1999 7% 19 573 8% 21 575
Jul. 1, 1999--Sep. 30, 1999 7% 19 573 8% 21 575
Oct. 1, 1999--Dec. 31, 1999 7% 19 573 8% 21 575
Jan. 1, 2000--Mar. 31, 2000 7% 67 621 8% 69 623
Apr. 1, 2000--Jun. 30, 2000 8% 69 623 9% 71 625
Jul. 1, 2000--Sep. 30, 2000 8% 69 623 9% 71 625
Oct. 1, 2000--Dec. 31, 2000 8% 69 623 9% 71 625
Jan. 1, 2001--Mar. 31, 2001 8% 21 575 9% 23 577
Apr. 1, 2001--Jun. 30, 2001 7% 19 573 8% 21 575
Jul. 1, 2001--Sep. 30, 2001 6% 17 571 7% 19 573
TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 -- PRESENT
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1991--Mar. 31, 1991 13% 31 585
Apr. 1, 1991--Jun. 30, 1991 12% 29 583
Jul. 1, 1991--Sep. 30, 1991 12% 29 583
Oct. 1, 1991--Dec. 31, 1991 12% 29 583
Jan. 1, 1992--Mar. 31, 1992 11% 75 629
Apr. 1, 1992--Jun. 30, 1992 10% 73 627
Jul. 1, 1992--Sep. 30, 1992 10% 73 627
Oct. 1, 1992--Dec. 31, 1992 9% 71 625
Jan. 1, 1993--Mar. 31, 1993 9% 23 577
Apr. 1, 1993--Jun. 30, 1993 9% 23 577
Jul. 1, 1993--Sep. 30, 1993 9% 23 577
Oct. 1, 1993--Dec. 31, 1993 9% 23 577
Jan. 1, 1994--Mar. 31, 1994 9% 23 577
Apr. 1, 1994--Jun. 30, 1994 9% 23 577
Jul. 1, 1994--Sep. 30, 1994 10% 25 579
Oct. 1, 1994--Dec. 31, 1994 11% 27 581
Jan. 1, 1995--Mar. 31, 1995 11% 27 581
Apr. 1, 1995--Jun. 30, 1995 12% 29 583
Jul. 1, 1995--Sep. 30, 1995 11% 27 581
Oct. 1, 1995--Dec. 31, 1995 11% 27 581
Jan. 1, 1996--Mar. 31, 1996 11% 75 629
Apr. 1, 1996--Jun. 30, 1996 10% 73 627
Jul. 1, 1996--Sep. 30, 1996 11% 75 629
Oct. 1, 1996--Dec. 31, 1996 11% 75 629
Jan. 1, 1997--Mar. 31, 1997 11% 27 581
Apr. 1, 1997--Jun. 30, 1997 11% 27 581
Jul. 1, 1997--Sep. 30, 1997 11% 27 581
Oct. 1, 1997--Dec. 31, 1997 11% 27 581
Jan. 1, 1998--Mar. 31, 1998 11% 27 581
Apr. 1, 1998--Jun. 30, 1998 10% 25 579
Jul. 1, 1998--Sep. 30, 1998 10% 25 579
Oct. 1, 1998--Dec. 31, 1998 10% 25 579
Jan. 1, 1999--Mar. 31, 1999 9% 23 577
Apr. 1, 1999--Jun. 30, 1999 10% 25 579
Jul. 1, 1999--Sep. 30, 1999 10% 25 579
Oct. 1, 1999--Dec. 31, 1999 10% 25 579
Jan. 1, 2000--Mar. 31, 2000 10% 73 627
Apr. 1, 2000--Jun. 30, 2000 11% 75 629
Jul. 1, 2000--Sep. 30, 2000 11% 75 629
Oct. 1, 2000--Dec. 31, 2000 11% 75 629
Jan. 1, 2001--Mar. 31, 2001 11% 27 581
Apr. 1, 2001--Jun. 30, 2001 10% 25 579
Jul. 1, 2001--Sep. 30, 2001 9% 23 577
TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 -- PRESENT
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1995--Mar. 31, 1995 6.5% 18 572
Apr. 1, 1995--Jun. 30, 1995 7.5% 20 574
Jul. 1, 1995--Sep. 30, 1995 6.5% 18 572
Oct. 1, 1995--Dec. 31, 1995 6.5% 18 572
Jan. 1, 1996--Mar. 31, 1996 6.5% 66 620
Apr. 1, 1996--Jun. 30, 1996 5.5% 64 618
Jul. 1, 1996--Sep. 30, 1996 6.5% 66 620
Oct. 1, 1996--Dec. 31, 1996 6.5% 66 620
Jan. 1, 1997--Mar. 31, 1997 6.5% 18 572
Apr. 1, 1997--Jun. 30, 1997 6.5% 18 572
Jul. 1, 1997--Sep. 30, 1997 6.5% 18 572
Oct. 1, 1997--Dec. 31, 1997 6.5% 18 572
Jan. 1, 1998--Mar. 31, 1998 6.5% 18 572
Apr. 1, 1998--Jun. 30, 1998 5.5% 16 570
Jul. 1, 1998--Sep. 30, 1998 5.5% 16 570
Oct. 1, 1998--Dec. 31, 1998 5.5% 16 570
Jan. 1, 1999--Mar. 31, 1999 4.5% 14 568
Apr. 1, 1999--Jun. 30, 1999 5.5% 16 570
Jul. 1, 1999--Sep. 30, 1999 5.5% 16 570
Oct. 1, 1999--Dec. 31, 1999 5.5% 16 570
Jan. 1, 2000--Mar. 31, 2000 5.5% 64 618
Apr. 1, 2000--Jun. 30, 2000 6.5% 66 620
Jul. 1, 2000--Sep. 30, 2000 6.5% 66 620
Oct. 1, 2000--Dec. 31, 2000 6.5% 66 620
Jan. 1, 2001--Mar. 31, 2001 6.5% 18 572
Apr. 1, 2001--Jun. 30, 2001 5.5% 16 570
Jul. 1, 2001--Sep. 30, 2001 4.5% 14 568
<<END RULING>>
Code Sec. 6621
<<FULL TEXT>>
26 CFR 301.6621-1: Interest rate.
Interest rates; underpayments and overpayments. The rate
of interest
determined under section 6621 of the Code for the
calendar quarter
beginning July 1, 2001, will be 7 percent for
overpayments (6 percent in
the case of a corporation), 7 percent for underpayments,
and 9 percent for
large corporate underpayments. The rate of interest paid
on the portion of
a corporate overpayment exceeding $10,000 will be 4.5
percent.
REV. RUL. 2001-32
Section 6621 of the Internal Revenue Code establishes the
rates for
interest on tax overpayments and tax underpayments. Under
section
6621(a)(1), the overpayment rate beginning July 1, 2001,
is the sum of the
federal short-term rate plus 3 percentage points (2
percentage points in
the case of a corporation), except the rate for the
portion of a corporate
overpayment of tax exceeding $10,000 for a taxable period
is the sum of
the federal short-term rate plus 0.5 of a percentage
point for interest
computations made after December 31, 1994. Under section
6621(a)(2), the
underpayment rate is the sum of the federal short-term
rate plus 3
percentage points.
Section 6621(c) provides that for purposes of interest
payable under
section 6601 on any large corporate underpayment, the
underpayment rate
under section 6621(a)(2) is determined by substituting "5
percentage
points" for "3 percentage points." See section 6621(c)
and section
301.6621-3 of the Regulations on Procedure and
Administration for the
definition of a large corporate underpayment and for the
rules for
determining the applicable date. Section 6621(c) and
section 301.6621-3
are generally effective for periods after December 31,
1990. Section
6621(b)(1) provides that the Secretary will determine the
federal
short-term rate for the first month in each calendar
quarter Section
6621(b)(2)(A) provides that the federal short-term rate
determined under
section 6621(b)(1) for any month applies during the first
calendar quarter
beginning after such month.
Section 6621(b)(3) provides that the federal short-term
rate for any
month is the federal short-term rate determined during
such month by the
Secretary in accordance with section 1274(d), rounded to
the nearest full
percent (or, if a multiple of 1/2 of 1 percent, the rate
is increased to
the next highest full percent).
Notice 88-59, 1988-1 C.B. 546, announced that, in
determining the
quarterly interest rates to be used for overpayments and
underpayments of
tax under section 6621, the Internal Revenue Service will
use the federal
short-term rate based on daily compounding because that
rate is most
consistent with section 6621 which, pursuant to section
6622, is subject
to daily compounding.
Rounded to the nearest full percent, the federal
short-term rate based
on daily compounding determined during the month of April
2001 is 4
percent. Accordingly, an overpayment rate of 7 percent (6
percent in the
case of a corporation) and an underpayment rate of 7
percent are
established for the calendar quarter beginning July 1,
200 1. The
overpayment rate for the portion of a corporate
overpayment exceeding
$10,000 for the calendar quarter beginning July 1, 2001,
is 4.5 percent.
The underpayment rate for large corporate underpayments
for the calendar
quarter beginning July 1, 2001, is 9 percent. These rates
apply to amounts
bearing interest during that calendar quarter.
Interest factors for daily compound interest for annual
rates of 4.5
percent, 6 percent, 7 percent, and 9 percent are
published in Tables 14,
17, 19, and 23 of Rev. Proc. 95-17, 1995-1 C.B. 556, 568,
571, 573, and
577.
Annual interest rates to be compounded daily pursuant to
section 6622
that apply for prior periods are set forth in the tables
accompanying this
revenue ruling.
DRAFTING INFORMATION
The principal author of this revenue ruling is Raymond
Bailey of the
Office of Associate Chief Counsel (Procedure &
Administration),
Administrative Provisions & Judicial Practice Division.
For further
information regarding this revenue ruling, contact Mr.
Bailey at (202)
622-6226 (not a toll-free call).
TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 -- PERIODS ENDING DEC. 31,
1986
OVERPAYMENTS AND UNDERPAYMENTS
DAILY RATE TABLE
PERIOD RATE IN 1995-1 C.B.
------ ---- ----------------
Before Jul. 1, 1975 6% Table 2, pg. 557
Jul. 1, 1975--Jan. 31, 1976 9% Table 4, pg. 550
Feb. 1, 1976--Jan. 31, 1978 7% Table 3, pg. 558
Feb. 1, 1978--Jan. 31, 1980 6% Table 2, pg. 557
Feb. 1, 1980--Jan, 31, 1982 12% Table 5, pg. 560
Feb. 1, 1982--Dec. 31, 1982 20% Table 6, pg. 560
Jan. 1, 1983--Jun. 30, 1983 16% Table 37, pg. 591
Jul. 1, 1983--Dec. 31, 1983 11% Table 27, pg. 581
Jan. 1, 1984--Jun. 30, 1984 11% Table 75, pg. 629
Jul. 1, 1984--Dec. 31, 1984 11% Table 75, pg. 629
Jan. 1, 1985--Jun. 30, 1985 13% Table 31, pg. 585
Jul. 1, 1985--Dec. 31, 1985 11% Table 27, pg. 581
Jan. 1, 1986--Jun. 30, 1986 10% Table 25, pg. 579
Jul. 1, 1986--Dec. 31, 1986 9% Table 23, pg. 577
TABLE OF INTEREST RATES
FROM JAN. 1, 1987 -- DEC. 31, 1998
OVERPAYMENTS UNDERPAYMENTS
------------------ -----------------
TABLE TABLE
1995-1 1995-1
RATE C.B. PG RATE C.B. PG
---- ------ -- ---- ------ --
Jan. 1, 1987--Mar. 31, 1987 8% 21 575 9% 23 577
Apr. 1, 1987--Jun. 30, 1987 8% 21 575 9% 23 577
Jul. 1, 1987--Sep. 30, 1987 8% 21 575 9% 23 577
Oct. 1, 1987--Dec. 31, 1987 9% 23 577 10% 25 579
Jan. 1, 1988--Mar. 31, 1988 10% 73 627 11% 75 629
Apr. 1, 1988--Jun. 30, 1988 9% 71 625 10% 73 627
Jul. 1, 1988--Sep. 30, 1988 9% 71 625 10% 73 627
Oct. 1, 1988--Dec. 31, 1988 10% 73 627 11% 75 629
Jan. 1, 1989--Mar. 31, 1989 10% 25 579 11% 27 581
Apr. 1, 1989--Jun. 30, 1989 11% 27 581 12% 29 583
Jul. 1, 1989--Sep. 30, 1989 11% 27 581 12% 29 583
Oct. 1, 1989--Dec. 31, 1989 10% 25 579 11% 27 581
Jan. 1, 1990--Mar. 31, 1990 10% 25 579 11% 27 581
Apr. 1, 1990--Jun. 30, 1990 10% 25 579 11% 27 581
Jul. 1, 1990--Sep. 30, 1990 10% 25 579 11% 27 581
Oct. 1, 1990--Dec. 31, 1990 10% 25 579 11% 27 581
Jan. 1, 1991--Mar. 31, 1991 10% 25 579 11% 27 581
Apr. 1, 1991--Jun. 30, 1991 9% 23 577 10% 25 579
Jul. 1, 1991--Sep. 30, 1991 9% 23 577 10% 25 579
Oct. 1, 1991--Dec. 31, 1991 9% 23 577 10% 25 579
Jan. 1, 1992--Mar. 31, 1992 8% 69 623 9% 71 625
Apr. 1, 1992--Jun. 30, 1992 7% 67 621 8% 69 623
Jul. 1, 1992--Sep. 30, 1992 7% 67 621 8% 69 623
Oct. 1, 1992--Dec. 31, 1992 6% 65 619 7% 67 621
Jan. 1, 1993--Mar. 31, 1993 6% 17 571 7% 19 573
Apr. 1, 1993--Jun. 30, 1993 6% 17 571 7% 19 573
Jul. 1, 1993--Sep. 30, 1993 6% 17 571 7% 19 573
Oct. 1, 1993--Dec. 31, 1993 6% 17 571 7% 19 573
Jan. 1, 1994--Mar. 31, 1994 6% 17 571 7% 19 573
Apr. 1, 1994--Jun. 30, 1994 6% 17 571 7% 19 573
Jul. 1, 1994--Sep. 30, 1994 7% 19 573 8% 21 575
Oct. 1, 1994--Dec. 31, 1994 8% 21 575 9% 23 577
Jan. 1, 1995--Mar. 31, 1995 8% 21 575 9% 23 577
Apr. 1, 1995--Jun. 30, 1995 9% 23 577 10% 25 579
Jul. 1, 1995--Sep. 30, 1995 8% 21 575 9% 23 577
Oct. 1, 1995--Dec. 31, 1995 8% 21 575 9% 23 577
Jan. 1, 1996--Mar. 31, 1996 8% 69 623 9% 71 625
Apr. 1, 1996--Jun. 30, 1996 7% 67 621 8% 69 623
Jul. 1, 1996--Sep. 30, 1996 8% 69 623 9% 71 625
Oct. 1, 1996--Dec. 31, 1996 8% 69 623 9% 71 625
Jan. 1, 1997--Mar. 31, 1997 8% 21 575 9% 23 577
Apr. 1, 1997--Jun. 30, 1997 8% 21 575 9% 23 577
Jul. 1, 1997--Sep. 30, 1997 8% 21 575 9% 23 577
Oct. 1, 1997--Dec. 31, 1997 8% 21 575 9% 23 577
Jan. 1, 1998--Mar. 31, 1998 8% 21 575 9% 23 577
Apr. 1, 1998--Jun. 30, 1998 7% 19 573 8% 21 575
Jul. 1, 1998--Sep. 30, 1998 7% 19 573 8% 21 575
Oct. 1, 1998--Dec. 31, 1998 7% 19 573 8% 21 575
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 -- PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1999-Mar. 31, 1999 7% 19 573
Apr. 1, 1999-Jun. 30, 1999 8% 21 575
Jul. 1, 1999-Sep. 30, 1999 8% 21 575
Oct. 1, 1999-Dec. 31, 1999 8% 21 575
Jan. 1, 2000-Mar. 31, 2000 8% 69 623
Apr. 1, 2000-Jun. 30, 2000 9% 71 625
Jul. 1, 2000-Sep. 30, 2000 9% 71 625
Oct. 1, 2000-Dec. 31, 2000 9% 71 625
Jan. 1, 2001-Mar. 31, 2001 9% 23 577
Apr. 1, 2001-Jun. 30, 2001 8% 21 575
Jul. 1, 2001-Sep. 30, 2001 7% 19 573
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 -- PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTS UNDERPAYMENTS
------------------ ------------------
TABLE TABLE
1995-1 1995-1
RATE C.B. PG RATE C.B. PG
---- ------ -- ---- ------ --
Jan. 1, 1999--Mar. 31, 1999 6% 17 571 7% 19 573
Apr. 1, 1999--Jun. 30, 1999 7% 19 573 8% 21 575
Jul. 1, 1999--Sep. 30, 1999 7% 19 573 8% 21 575
Oct. 1, 1999--Dec. 31, 1999 7% 19 573 8% 21 575
Jan. 1, 2000--Mar. 31, 2000 7% 67 621 8% 69 623
Apr. 1, 2000--Jun. 30, 2000 8% 69 623 9% 71 625
Jul. 1, 2000--Sep. 30, 2000 8% 69 623 9% 71 625
Oct. 1, 2000--Dec. 31, 2000 8% 69 623 9% 71 625
Jan. 1, 2001--Mar. 31, 2001 8% 21 575 9% 23 577
Apr. 1, 2001--Jun. 30, 2001 7% 19 573 8% 21 575
Jul. 1, 2001--Sep. 30, 2001 6% 17 571 7% 19 573
TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 -- PRESENT
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1991--Mar. 31, 1991 13% 31 585
Apr. 1, 1991--Jun. 30, 1991 12% 29 583
Jul. 1, 1991--Sep. 30, 1991 12% 29 583
Oct. 1, 1991--Dec. 31, 1991 12% 29 583
Jan. 1, 1992--Mar. 31, 1992 11% 75 629
Apr. 1, 1992--Jun. 30, 1992 10% 73 627
Jul. 1, 1992--Sep. 30, 1992 10% 73 627
Oct. 1, 1992--Dec. 31, 1992 9% 71 625
Jan. 1, 1993--Mar. 31, 1993 9% 23 577
Apr. 1, 1993--Jun. 30, 1993 9% 23 577
Jul. 1, 1993--Sep. 30, 1993 9% 23 577
Oct. 1, 1993--Dec. 31, 1993 9% 23 577
Jan. 1, 1994--Mar. 31, 1994 9% 23 577
Apr. 1, 1994--Jun. 30, 1994 9% 23 577
Jul. 1, 1994--Sep. 30, 1994 10% 25 579
Oct. 1, 1994--Dec. 31, 1994 11% 27 581
Jan. 1, 1995--Mar. 31, 1995 11% 27 581
Apr. 1, 1995--Jun. 30, 1995 12% 29 583
Jul. 1, 1995--Sep. 30, 1995 11% 27 581
Oct. 1, 1995--Dec. 31, 1995 11% 27 581
Jan. 1, 1996--Mar. 31, 1996 11% 75 629
Apr. 1, 1996--Jun. 30, 1996 10% 73 627
Jul. 1, 1996--Sep. 30, 1996 11% 75 629
Oct. 1, 1996--Dec. 31, 1996 11% 75 629
Jan. 1, 1997--Mar. 31, 1997 11% 27 581
Apr. 1, 1997--Jun. 30, 1997 11% 27 581
Jul. 1, 1997--Sep. 30, 1997 11% 27 581
Oct. 1, 1997--Dec. 31, 1997 11% 27 581
Jan. 1, 1998--Mar. 31, 1998 11% 27 581
Apr. 1, 1998--Jun. 30, 1998 10% 25 579
Jul. 1, 1998--Sep. 30, 1998 10% 25 579
Oct. 1, 1998--Dec. 31, 1998 10% 25 579
Jan. 1, 1999--Mar. 31, 1999 9% 23 577
Apr. 1, 1999--Jun. 30, 1999 10% 25 579
Jul. 1, 1999--Sep. 30, 1999 10% 25 579
Oct. 1, 1999--Dec. 31, 1999 10% 25 579
Jan. 1, 2000--Mar. 31, 2000 10% 73 627
Apr. 1, 2000--Jun. 30, 2000 11% 75 629
Jul. 1, 2000--Sep. 30, 2000 11% 75 629
Oct. 1, 2000--Dec. 31, 2000 11% 75 629
Jan. 1, 2001--Mar. 31, 2001 11% 27 581
Apr. 1, 2001--Jun. 30, 2001 10% 25 579
Jul. 1, 2001--Sep. 30, 2001 9% 23 577
TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 -- PRESENT
TABLE
1995-1
RATE C.B. PG
---- ------ --
Jan. 1, 1995--Mar. 31, 1995 6.5% 18 572
Apr. 1, 1995--Jun. 30, 1995 7.5% 20 574
Jul. 1, 1995--Sep. 30, 1995 6.5% 18 572
Oct. 1, 1995--Dec. 31, 1995 6.5% 18 572
Jan. 1, 1996--Mar. 31, 1996 6.5% 66 620
Apr. 1, 1996--Jun. 30, 1996 5.5% 64 618
Jul. 1, 1996--Sep. 30, 1996 6.5% 66 620
Oct. 1, 1996--Dec. 31, 1996 6.5% 66 620
Jan. 1, 1997--Mar. 31, 1997 6.5% 18 572
Apr. 1, 1997--Jun. 30, 1997 6.5% 18 572
Jul. 1, 1997--Sep. 30, 1997 6.5% 18 572
Oct. 1, 1997--Dec. 31, 1997 6.5% 18 572
Jan. 1, 1998--Mar. 31, 1998 6.5% 18 572
Apr. 1, 1998--Jun. 30, 1998 5.5% 16 570
Jul. 1, 1998--Sep. 30, 1998 5.5% 16 570
Oct. 1, 1998--Dec. 31, 1998 5.5% 16 570
Jan. 1, 1999--Mar. 31, 1999 4.5% 14 568
Apr. 1, 1999--Jun. 30, 1999 5.5% 16 570
Jul. 1, 1999--Sep. 30, 1999 5.5% 16 570
Oct. 1, 1999--Dec. 31, 1999 5.5% 16 570
Jan. 1, 2000--Mar. 31, 2000 5.5% 64 618
Apr. 1, 2000--Jun. 30, 2000 6.5% 66 620
Jul. 1, 2000--Sep. 30, 2000 6.5% 66 620
Oct. 1, 2000--Dec. 31, 2000 6.5% 66 620
Jan. 1, 2001--Mar. 31, 2001 6.5% 18 572
Apr. 1, 2001--Jun. 30, 2001 5.5% 16 570
Jul. 1, 2001--Sep. 30, 2001 4.5% 14 568
<<END RULING>>