Welcome back to Ned’s blog spot, where you can find all the answers to your tax questions. Short and sweet this time around, but not something you’ll want to miss.
Last month, the IRS announced that interest rates will increase for the fourth quarter of the year, beginning October 1, 2022. Below you’ll find a complete list of the new rates, as it appears on the IRS website:
– 6% for overpayments (5% for corporations). (Payments made in excess, of the amount owed)
– 3.5% for the portion of a corporate overpayment exceeding $10,000.
– 6% for underpayments. (Taxes owed but not fully paid)
– 8% for large corporate underpayments.
For more information, please visit the IRS website directly here:
We hope you find this information helpful as you begin to prepare for the upcoming tax season. And as always, the information for our main office downtown will be listed as well. Don’t forget to check back for more!
Ned Jackson Downtown Office
255 N Liberty Street
Jacksonville, FL 32202