Internal Revenue Bulletin: 2012-52
December 27, 2012
Interest rates; underpayment and overpayments. The rates for interest determined under section 6621 of the Code for the calendar quarter beginning January 1, 2013, will be 3 percent for overpayments (2 percent in the case of a corporation), 3 percent for the underpayments, and 5 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 0.5 percent.
Qualified plug-in electric drive motor vehicle credit; update of Notice 2009-89. This notice modifies Notice 2009-89, 2009-2 C.B. 714, by changing the address to which a manufacturer (or, in the case of a foreign manufacturer, its domestic distributor) sends certifications and quarterly reports under Notice 2009-89. Notice 2009-89 modified.
The notice invites public comments regarding guidance to be provided to governmental and financial entities (applicable entities) described under section 6050P(c) of the Code, who discharge indebtedness and may be required to furnish Form 1099-C information returns pursuant to section 6050P and Treasury regulations section 1.6050P.
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