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How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.

IRS interest rates decrease

The Internal Revenue Service announced yesterday that its interest rates will decrease for the calendar quarter beginning July 1, 2020. The rates will be:

  • 3 percent for overpayments [2 percent in the case of a corporation];
  • 0.5 percent for the portion of a corporate overpayment exceeding $10,000;
  • 3 percent for underpayments; and
  • 5 percent for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

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