![](https://i0.wp.com/contentedreader.com/wp-content/uploads/2023/12/The-Surprise-Bill-Coming-to-Those-Who-Underpay-Their-Taxes.jpeg?resize=768%2C432&ssl=1)
Failing to keep up with tax payments now could lead to an expensive surprise come next spring.
As of Oct. 1, the Internal Revenue Service is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The increase is one of the many effects of rising interest rates.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8