IRS announces underpayment, overpayment rates for 2022 Fourth Quarter

August 15, 2022

The IRS has announced (Rev. Rul. 2022-15) the interest rates for taxpayer underpayments and overpayments for the fourth quarter of 2022:

 6% for overpayments [5% in the case of a corporation];
 an additional 3.5% for the portion of a corporate overpayment exceeding $10,000;
 6% for underpayments; and
 8% for large corporate underpayments. 

These rates apply quarter by quarter. If you have a tax debt that accrues interest over multiple quarters, the rate used to accrue the interest may be different for each quarter. Likewise, the rate for refunds is redetermined quarterly.

The 6% underpayment rate also applies for computing penalties for underpayment of estimated tax.

A "large corporate underpayment" is one that exceeds $100,000.

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