February 28, 2023 8:34 pm

IRS Interest Rates Unchanged for Q2

The IRS interest rates on overpayments and underpayments for the second quarter of 2023 are the same as the rates for the first quarter of 2023 (Rev. Rul. 2023-4). The rates beginning April 1, 2023, are:

  • 7% for overpayments (6% in the case of a corporation);
  • 4.5% for the portion of a corporate overpayment exceeding $10,000;
  • 7% for underpayments; and
  • 9% for large corporate underpayments.
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Tax Glossary

Annualized rate

A rate for a period of less than a year computed as though for a full year.

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