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To: End Times Sentinel
You don't make an unfair fight worse by blowing off one of your own feet. Pay the 2019 amount due and stop the bleeding. With the FED boosting rates, it's only going to get worse. Inflation is not going to help you.

"The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning April 1, 2022. The rates will be: 4% for 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."

So expect the next penalty rate to be 4.75% or higher.

18 posted on 06/24/2022 3:54:14 AM PDT by BiglyCommentary
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To: BiglyCommentary
"The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning April 1, 2022. The rates will be: 4% for underpayments;"

I did not know that. This is obviously in your wheel house and I appreciate your sharing your expertise with another FReeper, Gratis!

19 posted on 06/24/2022 8:34:55 PM PDT by End Times Sentinel (In the conflict between the stone and the stream, the stream will always prevail.)
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