IR-2022-206, November 29, 2022
WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning January 1, 2023.
For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up from 6% for the quarter that began on October 1. Here is a complete list of the new rates:
- 7% for overpayments (payments made in excess of the amount owed), 6% for corporations.
- 4.5% for the portion of a corporate overpayment exceeding $10,000.
- 7% for underpayments. (taxes owed but not fully paid)
- 9% for large corporate underpayments.