IL - Underpayment Interest Rates
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Illinois Underpayment Interest Rates
The interest rate is adjusted twice a year, on January 1st and then again on July 1st. Two interest rates apply. The one shown here is for payments less than 1 year overdue. It is the federal underpayment interest rate less 3%. After one year, the interest rate is the same as the federal rate.
| Year | Qtr 1 1/01 - 3/31 | Qtr 2 4/01 - 6/30 | Qtr 3 7/01 - 9/30 | Qtr 4 10/01 - 12/31 |
|---|---|---|---|---|
| 2009 | 2% | 2% | 1% | 1% |
| 2008 | 4% | 4% | 2% | 2% |
| 2007 | 5% | 5% | 5% | 5% |
| 2006 | 4% | 4% | 5% | 5% |
| 2005 | 2% | 2% | 3% | 3% |
| 2004 | 1% | 1% | 1% | 1% |
For more information, see Federal Underpayment Interest Rates, which includes federal rates as well as links to other states.
