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taxmap/pubs/p3-011.htm#en_us_publink100096130

Maximum Rate of Interest(p24)


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Maximum Rate of Interest

Section 207 of the "Servicemembers Civil Relief Act" limits the maximum interest rate you can be charged to 6% per year for obligations or liabilities incurred before your entry into military service. The reduced rate applies only if your service materially affects your ability to pay. This rate applies only to that interest charged during the period of your military service.
To substantiate your claim for this reduced interest rate, you must furnish the IRS a copy of your orders or reporting instructions that detail the call to military service. You must do so no later than 180 days after the date of your termination or release from military service.
previous pagePrevious Page: Publication 3 - Armed Forces' Tax Guide - Deferral of Payment
next pageNext Page: Publication 3 - Armed Forces' Tax Guide - How To Get Tax Help
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication