The IRS interest rates on overpayments and underpayments for the fourth quarter of 2022 are one percentage point higher than in the third quarter (Rev. Rul. 2022-15). This is the third interest rate increase this year. The rates beginning October 1, 2022, are:
A statutory term used to figure your profit or loss on a sale or exchange. Generally, it is sales proceeds plus mortgages assumed or taken subject to, less transaction expenses, such as commissions and legal costs.