{"id":56484,"date":"2023-02-13T12:21:51","date_gmt":"2023-02-13T20:21:51","guid":{"rendered":"https:\/\/lapost.us\/?p=56484"},"modified":"2023-02-13T12:41:19","modified_gmt":"2023-02-13T20:41:19","slug":"interest-rates-remain-the-same-for-the-second-quarter-of-2023","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=56484","title":{"rendered":"Interest rates remain the same for the second quarter of 2023"},"content":{"rendered":"<p>IR-2023-24, Feb. 13, 2023,\u00a0WASHINGTON \u2014 The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning April 1, 2023.<\/p>\n<p>For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the new rates:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>7% for overpayments (payments made in excess of the amount owed), 6% for corporations.<\/li>\n<li>4.5% for the portion of a corporate overpayment exceeding $10,000.<\/li>\n<li>7% for underpayments (taxes owed but not fully paid).<\/li>\n<li>9% 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.\u00a0 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 January 2023. See the revenue ruling for details.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rr-23-04.pdf\">Revenue Ruling 2023-4<\/a> announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin 2023-9, dated Feb. 27, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IR-2023-24, Feb. 13, 2023,\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-56484","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56484","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=56484"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56484\/revisions"}],"predecessor-version":[{"id":56485,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/56484\/revisions\/56485"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}