Irs Loan Interest Rates 2024. The irs interest rate on unpaid taxes and tax refunds for individuals is 8% for the first three quarters of 2024 (the rate is adjusted on a quarterly basis). The rates are published monthly for purposes of §42, §382, §412, §642, §1288, §1274, §7520, §7872, and various other sections of the code.

These rates are used for a number of different purposes under the internal revenue code, including the determinations of original issue discount and unstated interest and the gift. 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.