Title 26 — Internal Revenue CodeRelease 119-73
§6622 Interest compounded daily
Title 26 › Subtitle Subtitle F— - Procedure and Administration › Chapter CHAPTER 67— - INTEREST › Subchapter Subchapter C— - Determination of Interest Rate; Compounding of Interest › § 6622
Summary
Interest that the Secretary or a taxpayer owes under the tax code, or under 28 U.S.C. 1961(c)(1) or 2411, and any amount figured from that interest, must be compounded every day. That daily compounding rule does not apply when figuring additions to tax under sections 6654 or 6655.
Full Legal Text
Title 26, §6622
Internal Revenue Code — Source: USLM XML via OLRC
(a)In computing the amount of any interest required to be paid under this title or section 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)Subsection (a) shall not apply for purposes of computing the amount of any addition to tax under section 6654 or 6655.
Legislative History
Notes & Related Subsidiaries
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.”
Reference
Citations & Metadata
Citation
26 U.S.C. § 6622
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73