IRS interest rates increased continually beginning on April 1, 2022. The rates are:
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IRS Penalty & Interest Rates
| 2022 Interest categories | Qtr 1 Jan. 1st - Mar. 31st |
Qtr 2 Apr. 1st - Jun. 30th |
Qtr 3 Jul. 1st - Sept. 30th |
Qtr 4 Oct. 1st - Dec. 31st |
|---|---|---|---|---|
| Corporate overpayments | 2% | 3% | 4% | 5% |
| Underpayments | 3% | 4% | 5% | 6% |
| Portion of corporate overpayments exceeding $10,000 | 0.5% | 1.5% | 2.5% | 3.5% |
| Large corporate underpayments | 5% | 6% | 7% | 8% |
For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. This rate is determined by the IRS on a quarterly basis.
| Year | Qtr 1 Jan. 1st - Mar 31st |
Qtr 2 Apr. 1st - Jun 30th |
Qtr 3 Jul. 1st - Sept. 30th |
Qtr 4 Oct. 1st - Dec. 31st |
|---|---|---|---|---|
| 2022 | 3% | 4% | 5% | 6% |
| 2021 | 3% | 3% | 3% | 3% |
| 2020 | 5% | 5% | 3% | 3% |
| 2019 | 6% | 6% | 5% | 5% |
| 2018 | 4% | 5% | 5% | 5% |
| 2017 | 4% | 4% | 4% | 4% |
| 2016 | 3% | 4% | 4% | 4% |
| 2015 | 3% | 3% | 3% | 3% |
| 2014 | 3% | 3% | 3% | 3% |
| 2013 | 3% | 3% | 3% | 3% |
| 2012 | 3% | 3% | 3% | 3% |
| 2011 | 3% | 4% | 4% | 3% |
| 2010 | 4% | 4% | 4% | 4% |
| 2009 | 5% | 4% | 4% | 4% |
| 2008 | 7% | 6% | 5% | 6% |
| 2007 | 8% | 8% | 8% | 8% |
| 2006 | 7% | 7% | 8% | 8% |
| 2005 | 5% | 6% | 6% | 7% |
| 2004 | 4% | 5% | 4% | 5% |
| 2003 | 5% | 5% | 5% | 4% |
| 2002 | 6% | 6% | 6% | 6% |
| 2001 | 9% | 8% | 7% | 7% |
| 2000 | 8% | 9% | 9% | 9% |
