December 11, 1992
IRS Announces the Quarterly Interest Rates
The Internal Revenue Service today announced that interest
rates for the calendar quarter beginning January 1, 1993, will
remain at six percent for overpayments, seven percent for
underpayments, and nine percent for large corporate underpayments.
Under the Tax Reform Act of 1986, the rate of interest is
determined on a quarterly basis, and the rate on underpayments is
one percent higher than the rate on overpayments. The rate
announced today is computed from the federal short-term rate based
on daily compounding determined during October 1992.
Rev. Rul. 92-110, announcing the new rates of interest appears
in Internal Revenue Bulletin No. 1992-52, dated 12/28/92.
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