The Internal Revenue Service (IRS) has announced the interest rates for the second quarter of 2022. We will see increases across the board when the new rates begin on April 1, 2022. The rates will be:

• 4% for overpayments (3% for a corporation);
• 1.5% for the portion of a corporate overpayment exceeding $10,000;
• 4% for underpayments; and
• 6% for large corporate underpayments.

More information on these upcoming rates and how they are calculated can be found at the IRS website by clicking here:

Interest rates increase for the second quarter of 2022 | Internal Revenue Service (irs.gov)

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