IRS overpayments happen when taxpayers or businesses paid an excessive amount of tax. The IRS will correct these overpayments with a refund, which is also where the interest rate plays a role.

The IRS has announced new interest rates for the upcoming quarter starting April 1, 2025. These rates, determined quarterly, affect both individual taxpayers and corporations.

President Donald Trump’s "big beautiful bill" includes key tax changes that are effective for 2025. Here is how they could ...

For top-bracket taxpayers, the Proposed Deduction reduces the effective tax rate on qualifying BDC interest income from 40.8% to 32.29%, an 8.51% reduction.