RR-2023-11: Determination of Rate of Interest

Revenue Ruling 2023-11 provides the third quarter interest rates for 2023, including the rates for underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning July 1, 2023, will be 7% for overpayments (6% in the case of a corporation), 7% for underpayments, and 9% for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 4.5%.

Revenue Ruling 2023-11 will be in IRB 2023-23 dated June 5, 2023.

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