The U.S. IRS has announced the interest rates for overpaid and underpaid tax for the calendar quarter beginning 1 October 2022, which are increased from the previous quarter due to an increase in the federal short-term rate. The rates are 6% for both overpayments and underpayments by individuals, and 5% and 6% for corporate overpayments and underpayments, respectively. The rate for corporate overpayments exceeding USD 10,000 in a tax period is 3.5% on the portion exceeding that amount, and the rate for large corporate underpayments exceeding USD 100,000 is 8%. Revenue Ruling 2022-15, which includes the new interest rates and...