Updated November 6, 2026. Quick answer: The IRS has not yet published the interest rates for the second quarter of 2027 (April 1 to June 30). The most recent published rates, for the fourth quarter of 2026, are 7% on underpayments and 7% on overpayments for individuals (Rev. Rul. 2026-15). The second quarter of 2027 rate comes from the federal short-term rate determined in January 2027, and this page updates when the IRS publishes the ruling for the second quarter of 2027. As of November 6, 2026 no such ruling exists, and the rates for the quarters in between are not published either.
Where the rates stand
The IRS rate table lists the quarters of 2026, and the fourth quarter (October to December) is the newest. Its rates, carried here as fourth-quarter 2026 rates, are:
| Category | Fourth quarter of 2026 (the latest published) |
|---|---|
| Individual overpayment | 7% |
| Underpayment (corporate and non-corporate) | 7% |
| Corporate overpayment | 6% |
| Part of a corporate overpayment above $10,000 | 4.5% |
| Large corporate underpayment | 9% |
| Section 6603 deposits (federal short-term rate) | 4% |
The ruling states them this way: “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 October 1, 2026.”
How the second quarter of 2027 rate will be set
The statute works from one month in each quarter. The IRS ruling says: “Section 6621(b)(1) provides that the Secretary will determine the federal short-term rate for the first month in each calendar quarter.” It continues: “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 that month.” The first month of the quarter before the second quarter of 2027 is January 2027, and the first calendar quarter that begins after it starts on the first day of the second quarter. So the second quarter of 2027 rates will be built from the January 2027 federal short-term rate.
The same step produced the first quarter of 2026. The ruling for it says: “The federal short-term rate, rounded to the nearest full percent, based on daily compounding determined during the month of October 2025 is 4 percent.” The fourth quarter of 2026 ruling says: “The federal short-term rate, rounded to the nearest full percent, based on daily compounding determined during the month of July 2026 is 4 percent.”
The same quarter a year earlier
For comparison, the IRS table lists the second quarter of 2026: individual overpayment 6%, corporate overpayment 5%, underpayment 6%, the part of a corporate overpayment above $10,000 3.5%, the large corporate underpayment 8%, and 3% for the section 6603 deposit rate (the federal short-term rate). The table cites Internal Revenue Bulletin 2026-8 for that quarter. These are last year’s rates, not a forecast.
Short-term rate plus three points
For individuals the ruling gives the formula: “Under section 6621(a)(2), the underpayment rate is the sum of the federal short-term rate plus 3 percentage points.” Recomputed from the printed rates: 4 percent plus 3 points is 7 percent for the fourth quarter of 2026 (computed), and the second quarter of 2026 short-term rate of 3% plus 3 points is 6% (computed). This page does not state a second quarter of 2027 rate, because the January 2027 short-term rate has not been turned into a published ruling.
Where the quarterly rate is used
The same rate drives the estimated tax penalty. The ruling states: “Sections 6654(a)(1) and 6655(a)(1) provide that the underpayment rate established under section 6621 applies in determining the addition to tax under sections 6654 and 6655 for failure to pay estimated tax for any taxable year.” The full 2026 quarter-by-quarter record is on the IRS interest rates 2026 page, and the penalty form is explained on the Form 2210 page.
When the second quarter of 2027 ruling will appear
Each quarter’s rates come in one revenue ruling published before the quarter begins. The IRS’s copy of Rev. Rul. 2026-15 (fourth quarter of 2026) is dated August 21, 2026, 41 days before the quarter began, and its copy of Rev. Rul. 2025-22 (first quarter of 2026) is dated November 13, 2025, 49 days before that quarter began (server dates read November 6, 2026; day counts computed). No ruling for the second quarter of 2027 exists as of November 6, 2026. This page updates when the IRS publishes it: the rates, the ruling name and the change from the fourth quarter of 2026 will replace this text.
Common mistakes
- Using the fourth-quarter 2026 rate for interest in the second quarter of 2027. A new quarter brings a new rate, and the second quarter of 2027 rate is not published yet.
- Assuming the second quarter of 2027 rate will match the fourth-quarter 2026 rate. The rate follows the January 2027 short-term rate, which this page does not state.
- Mixing the individual underpayment rate with the corporate rates. The large corporate underpayment and corporate overpayment rates differ from the individual rates.
Related: IRS interest rates for the first quarter of 2027, IRS interest rates for the third quarter of 2027, IRS interest rates for 2026, Form 1040 line 38, the estimated tax penalty, and Form 2210.
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Answer againSources
- Internal Revenue Service, Rev. Rul. 2026-15 (interest rates for the calendar quarter beginning October 1, 2026): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2025-22 (interest rates for the calendar quarter beginning January 1, 2026): www.irs.gov
- Internal Revenue Service, Quarterly interest rates (underpayment and overpayment rates by quarter): www.irs.gov
- Related official page (not quoted): IRS, Quarterly interest rates: www.irs.gov
Read from the primary documents linked above on November 6, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer or the IRS itself is the right place to confirm anything consequential.