Irs Loan Interest Rates 2024

Irs Loan Interest Rates 2024. The fed announced its fourth straight rate hold yesterday and signaled that 2024 rate cuts are not likely for a few months. If you owe money to the irs where interest accrues (like with a payment plan), the interest you pay as of may 1, 2024, is 8%, with interest compounded daily.

An applicable federal rate (afr) is the lowest interest rate the irs requires for private loans. To be sure, average rates are far lower than promotional rates.