Interest Rates Increase for the Fourth Quarter 2023



Aug. 25, 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Oct.1, 2023.

For individuals, the rate for overpayments and underpayments will be 8% per year, compounded daily. Here is a complete list of the new rates:

  • 8% for overpayments (payments made in excess of the amount owed), 7% for corporations.
  • 5.5% for the portion of a corporate overpayment exceeding $10,000.
  • 8% for underpayments (taxes owed but not fully paid).
  • 10% for large corporate underpayments.


To view more information regarding these rate changes, read the full article here –


If you have any questions or need help understanding how this may affect your business, give FLORES a call. We’d be happy to assist you in any way we can.

Contact us at 619-588-2411