IRS announces interest rates will remain the same for the first quarter of 2022

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning January 1, 2022. The rates are:

• Three (3) percent for individual overpayments (refunds)

• Three (3) percent for individual underpayments (balance due)

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For Taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

Source, at IRS.gov: https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-first-quarter-of-2022

h/t these-things-happen​