Interest rates: underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning April 1, 2022, will be 4 percent for overpayments (3 percent in the case of a corporation), 4 percent for underpayments, and 6 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 1.5 percent.

26 CFR 301.6621-1: Interest rate.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for February 2022 used under § 417(e)(3)(D), the 24-month average segment rates applicable for February 2022, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

Notice 2022-10 provides for adjustments to the limitation on housing expenses for purposes of section 911 of the Internal Revenue Code for the 2022 tax year. These adjustments are made on the basis of geographic differences in housing costs relative to housing costs in the United States. If the limitation on housing expenses is higher for the 2022 tax year than the adjusted limitations on housing expenses provided in Notice 2021-18, qualified taxpayers may apply the adjusted limitations in this notice for the 2022 tax year to their 2021 tax year.

Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate. For purposes of sections 382, 1274, 1288, 7872 and other sections of the Code, tables set forth the rates for March 2022.

(Also, Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.)