Discussion:IRS Interest Threshold
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Discussion Forum Index --> Basic Tax Questions --> IRS Interest Threshold
Discussion Forum Index --> Tax Questions --> IRS Interest Threshold
| 4 August 2009 | |
| I'm finishing a 1040 now where the taxpayer owes a few hundred dollars. The interest calulated on this amount due is less than $10. I'm wondering if anyone has noticed whether or not the IRS sends out interest due notices for amounts under $10. It seems to me there is a point where it is not economically feasible to be collecting amounts under for example $10? Does anyone know if there is such a threshold? | |
| 4 August 2009 | |
| IRS will send a bill for $5 but won't send a second one. At the current interest rate, $100 generates 33 cents per month in interest. | |
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