For taxes administered by the California Department of Tax and Fee Administration, the interest rates between July 1, 2019 and December 31, 2019, are:
The debit rate for deficiencies or underpayments is 9%; andThe credit rate for refunds or overpayments is 2%.
The interest rate seems extremely high for even California tax authorities. The Federal interest rate on deficiencies and underpayment is currently 6%. California CDTFA is 3% more than the Federal interest rate.
Contact Joseph P. Wilson at 949-397-2292 or wilson@wilsontaxlaw.com. Mr. Wilson represents clients throughout […]