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

Nonrecourse financing

Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.

More terms