{"id":48483,"date":"2022-05-20T09:34:06","date_gmt":"2022-05-20T16:34:06","guid":{"rendered":"https:\/\/lapost.us\/?p=48483"},"modified":"2022-05-20T09:34:06","modified_gmt":"2022-05-20T16:34:06","slug":"irs-interest-rates-increase-for-the-third-quarter-of-2022","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=48483","title":{"rendered":"IRS interest rates increase for the third quarter of 2022"},"content":{"rendered":"<p>IR-2022-107, May 20, 2022,\u00a0WASHINGTON \u2014 The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning July 1, 2022. The rates will be:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>5% for overpayments [4% in the case of a corporation].<\/li>\n<li>5% for the portion of a corporate overpayment exceeding $10,000.<\/li>\n<li>5% for underpayments.<\/li>\n<li>7% for large corporate underpayments.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.<\/p>\n<p>&nbsp;<\/p>\n<p>Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points, and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.<\/p>\n<p>&nbsp;<\/p>\n<p>The interest rates announced today are computed from the federal short-term rate determined during April 2022 to take effect May 1, 2022, based on daily compounding.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rr-22-11.pdf\">Revenue Ruling 2022-11<\/a> announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin 2022-23, dated June 6, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IR-2022-107, May 20, 2022,\u00a0WASHINGTON \u2014 The&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-48483","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/48483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48483"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/48483\/revisions"}],"predecessor-version":[{"id":48484,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/48483\/revisions\/48484"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}