Rev. Rul. 2023-22: Interest rates, tax underpayments and overpayments remain same for first quarter 2024
Rev. Rul. 2023-22 provides rates of interest with regard to tax underpayments and tax overpayments for calendar quarter beginning January 1, 2024
Interest rates, tax underpayments and overpayments remain same for first quarter 2024
The IRS today released an advance version of Rev. Rul. 2023-22 that provides the rates of interest with regard to tax underpayments and tax overpayments for the calendar quarter beginning January 1, 2024. The rates of interest will remain the same for the first calendar quarter of 2024.
Rev. Rul. 2023-22 [PDF 373 KB] lists the interest rates for the calendar quarter beginning January 1, 2024, 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-2023-219
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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