Interest rates remain the same for Q3 2023

May 24, 2023

The IRS has announced that interest rates will remain the same for the third quarter of 2023, which begins on Saturday, July 1.

The rates will be 7% for overpayments, 6% for corporate overpayments, 4.5% for the portion of corporate overpayment that exceeds $10,000, 7% for underpayments and 9% for large corporate underpayments. Read more.

The IRS determines the rate of interest on a quarterly basis under the Internal Revenue Code. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

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