Technical Information Release

Technical Information Release  TIR 25-2: Interest Rate On Overpayments And Underpayments

Date: 03/27/2025
Referenced Sources: Massachusetts General Laws

The Department of Revenue is issuing this Technical Information Release (TIR) to announce the quarterly interest rate on overpayments and underpayments determined by the Department of Revenue pursuant to G.L. c. 62C, §§ 32 and 40, as amended.  The interest rate on overpayments pursuant to G.L. c. 62C, § 40, is the Federal short-term rate determined under § 6621(b) of the Internal Revenue Code, as amended and in effect for the taxable year (“Federal short-term rate”) plus two percentage points, simple interest.  The rate for underpayments pursuant to G.L. c. 62C, § 32, is the Federal short-term rate plus four percentage points, compounded daily.  G.L. c. 62C, § 32(f) may reduce the rate of interest accruing on a deficiency assessment where the audit resulting in the deficiency assessment was commenced after July 1, 2011.  See TIR 11-6, Tax Changes Contained in the Fiscal Year 2012 Budget.

YearQuarterOverpayment
Interest Rate
Underpayment
Interest Rate
2025   Second6%8%
    First6%8%
2024   Entire year7%9%
2023   Fourth7%9%
Third6%8%
Second6%8%
First6%8%
2022   Fourth5%7%
Third4%6%
Second3%5%
First2%4%
2021   Entire year2%4%
2020   Fourth2%4%
Third2%4%
Second4%6%
First4%6%
2019   Fourth4%6%
Third4%6%
Second5%7%
First5%7%
2018   Fourth4%6%
Third4%6%
Second4%6%
First3%5%
2017     Entire year3%5%
2016   Fourth3%5%
Third3%5%
Second3%5%
First2%4%
2015   Entire year2%4%


The above rates may change quarterly.  See TIR 92-6 for an explanation of statutory changes in interest and penalties effective January 1,1993 and 830 CMR 62C.33.1: Interest, Penalties, and Application of Payments.

                                                                                    /s/Geoffrey E. Snyder
                                                                                    Geoffrey E. Snyder
                                                                                    Commissioner of Revenue
 

GES:RHF:rvd

March 27, 2025

TIR 25-2

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