Rev. Rul. 2023-17: Interest rates, tax underpayments and overpayments (increase for fourth quarter 2023)
Rates of interest with regard to tax underpayments and tax overpayments for the calendar quarter beginning October 1, 2023
Increase for fourth quarter 2023
The IRS today released an advance version of Rev. Rul. 2023-17 that provides the rates of interest with regard to tax underpayments and tax overpayments for the calendar quarter beginning October 1, 2023. The rates of interest will increase for the fourth calendar quarter of 2023.
Rev. Rul. 2023-17 [PDF 500 KB] lists the interest rates for the calendar quarter beginning October 1, 2023, as follows:
- 8% for overpayments (7% for corporations)
- 5.5% for the portion of a corporate overpayment exceeding $10,000
- 8% for underpayments
- 10% for large corporate underpayments
Read a related IRS release—IR-2023-154
For more information, contact a tax professional with KPMG Washington National Tax:
Rhonda Gibson | rkgibson@kpmg.com
Elizabeth Marchand | emarchand@kpmg.com
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