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Code · U.S. Code · Title 26 - INTERNAL REVENUE CODE · CHAPTER 67— INTEREST · Subchapter C— Determination of Interest Rate; Compounding of Interest · § 6622

Aa

§ 6622. Interest compounded daily

148 words·~1 min read·/usc/title-26/section-6622

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(a)General rule In computing the amount of any interest required to be paid under this title or sections 1961(c)(1) or 2411 of title 28, United States Code, by the Secretary or by the taxpayer, or any other amount determined by reference to such amount of interest, such interest and such amount shall be compounded daily.

(b)Exception for penalty for failure to file estimated tax Subsection

(a)shall not apply for purposes of computing the amount of any addition to tax under section 6654 or 6655.

(Added Pub. L. 97–248, title III, § 344(a), Sept. 3, 1982, 96 Stat. 635.)

Connections21 cite this · traces to 1

Cited by 21 sections · top 14

U.S. Code

§ 6601
Interest on underpayment, nonpayment, or extensions of time for payment, of tax

register

statutes-at-large

Public Law 97–248
To provide for tax equity and fiscal responsibility, and for other purposes

CFR

§ 70.94
Interest compounded daily.

Traces to 1 document

U.S. Code

Interest on underpayment, nonpayment, or extensions of time for payment, of tax
§ 6601

4 references not yet in our index

Pub. L. 97–248, title III, § 344(a)
96 Stat. 635
Pub. L. 97–248, title III, § 344(c)
96 Stat. 636

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cites case law

§ 6622

Interest compounded daily

Fed. Reg.×17

Stat.×2

C.F.R.×1

U.S.C.×1

Pub. L.Pub. L. 97–248, title III, § 344(a)

Stat.96 Stat. 635

Pub. L.Pub. L. 97–248, title III, § 344(c)

Stat.96 Stat. 636

Cites 5Cited by 21 across 4 sources