Debt Setoff Interest Rate

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period January 1, 2026 through June 30, 2026 is 7% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period July 1, 2025 through December 31, 2025 is 7% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period January 1, 2025 through June 30, 2025 is 7% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period July 1, 2024 through December 31, 2024 is 8% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period January 1, 2024 through June 30, 2024 is 8% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period July 1, 2023 through December 31, 2023 is 7% per annum. If you have any questions, please call (919) 814-1119.

General Statute 105-241.21(a) requires the Secretary of Revenue to establish interest rates to be in effect during a six month period beginning January and July 1 on overpayments and assessments of tax. G. S. 105-241.21(d) provides that the same interest rate will be applicable to overpayment of taxes. General Statute’s 105A-5 and 105A-8 state if a setoff agency must return a portion or the entire refund to the taxpayer, interest must be paid from the agency’s funds in accordance with G. S. 105-241.21. Meaning, if the setoff overpays the debtor’s account with the agency, the agency must use the interest rate that is noted on the Setoff Debt Collection Activity (SODCA) report and begin with the interest date for the debtor from the date specified until the check is written by the agency. The interest date is located in the column titled “Agency Interest Begin Date/Refund Interest.” The interest rate for the period January 1, 2023 through June 30, 2023 is 7% per annum. If you have any questions, please call (919) 814-1119.