FEDERAL · 26 U.S.C. · Chapter Subchapter C—Determination of Interest Rate; Compounding of Interest
Interest compounded daily
26 U.S.C. § 6622
Title26 — Internal Revenue Code
ChapterSubchapter C—Determination of Interest Rate; Compounding of Interest
This text of 26 U.S.C. § 6622 (Interest compounded daily) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 6622.
Text
(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.
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Source Credit
History
(Added Pub. L. 97–248, title III, §344(a), Sept. 3, 1982, 96 Stat. 635.)
Editorial Notes
Statutory Notes and Related Subsidiaries
Effective Date
Pub. L. 97–248, title III, §344(c), Sept. 3, 1982, 96 Stat. 636, provided that: "The amendments made by this section [enacting this section and amending section 6601 of this title] shall apply to interest accruing after December 31, 1982."
Editorial Notes
Amendments
2000—Pub. L. 106–554, §1(a)(7) [title III, §319(22)], Dec. 21, 2000, 114 Stat. 2763, 2763A–647, substituted "Requirements" for "requirements" in subchapter heading.
Effective Date
Pub. L. 97–248, title III, §344(c), Sept. 3, 1982, 96 Stat. 636, provided that: "The amendments made by this section [enacting this section and amending section 6601 of this title] shall apply to interest accruing after December 31, 1982."
Editorial Notes
Amendments
2000—Pub. L. 106–554, §1(a)(7) [title III, §319(22)], Dec. 21, 2000, 114 Stat. 2763, 2763A–647, substituted "Requirements" for "requirements" in subchapter heading.
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Bluebook (online)
26 U.S.C. § 6622, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/6622.