{"id":4350,"date":"2022-11-30T06:38:00","date_gmt":"2022-11-30T12:38:00","guid":{"rendered":"https:\/\/cookco.us\/news\/?p=4350"},"modified":"2022-11-29T13:40:51","modified_gmt":"2022-11-29T19:40:51","slug":"interest-rates-increase","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/interest-rates-increase\/","title":{"rendered":"Interest Rates Increase"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Interest rates increase for the first quarter of 2023<\/strong>.<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2023.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up from 6% for the quarter that began on October 1.&nbsp; Here is a complete list of the new rates:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>7% for overpayments (payments made in excess of the amount owed), 6% for corporations.<\/li>\n\n\n\n<li>4.5% for the portion of a corporate overpayment exceeding $10,000.<\/li>\n\n\n\n<li>7% for underpayments. (taxes owed but not fully paid)<\/li>\n\n\n\n<li>9% for large corporate underpayments.&nbsp;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rates are the federal short-term rate plus 3 percentage points.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interest rates increase for the first quarter of 2023. The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2023.&nbsp; For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up from 6% for the quarter that began on October 1.&nbsp; Here [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4351,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[84],"tags":[],"class_list":["post-4350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/4350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=4350"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/4350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/4351"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=4350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=4350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=4350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}