First quarter interest rates for 2022 announced by IRS
Interest rates will remain the same for the first quarter of 2022 as they were in the last quarter of 2021, IRS recently announced.
That means, as of Jan. 1, 2022, the rates remain:
- 2% for corporate overpayments
- 0.5% for the part of a corporate overpayment that exceeds $10,000
- 3% for underpayments, and
- 5% for large corporate underpayments.
Those interest rates are computed from the federal short-term rate determined during October 2021 that took effect Nov. 1, 2021, based on daily compounding.
Now’s a great time to check with your team to make sure everyone is familiar with these numbers.
- Share on
Free Training & Resources
Webinars
Provided by Yooz
Further Reading
The more invoices a business is sending out, the better the health of the company. After all, a lot of invoices in the pipeline means a com...
Financial professionals who can read a chart are rightly worried about the long-term economic health of the U.S. To quote the late, great e...
Structured scenario planning delivers FP&A’s biggest wins: 13% better external integration, budgets down to eight weeks, and cons...
Unclaimed property reporting can easily trip businesses up, landing them in the audit crosshairs of state governments and possibly leading ...
The success of Finance depends on an accurate and efficient A/P department. That includes every step of invoice processing – receivin...
2023 promises to be a very challenging year for Accounts Receivable departments. The word from many in the A/R and credit & collections...
