81 FR 6526 - Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties
DEPARTMENT OF HOMELAND SECURITY
U.S. Customs and Border Protection Federal Register Volume 81, Issue 25 (February 8, 2016)
U.S. Customs and Border Protection
Federal Register Volume 81, Issue 25 (February 8, 2016)
| Page Range | 6526-6527 | |
| FR Document | 2016-02402 |
[Federal Register Volume 81, Number 25 (Monday, February 8, 2016)] [Notices] [Pages 6526-6527] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-02402] ----------------------------------------------------------------------- DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties AGENCY: U.S. Customs and Border Protection, Department of Homeland Security. ACTION: General notice. ----------------------------------------------------------------------- SUMMARY: This notice advises the public that the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties remain unchanged from the previous quarter. For the calendar quarter beginning January 1, 2016, the interest rates for overpayments will be 2 percent for corporations and 3 percent for non-corporations, and the interest rate for underpayments will be 3 percent for both corporations and non-corporations. This notice is published for the convenience of the importing public and U.S. Customs and Border Protection personnel. DATES: Effective Date: January 1, 2016. FOR FURTHER INFORMATION CONTACT: Michael P. Dean, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 614-4882. SUPPLEMENTARY INFORMATION: Background Pursuant to 19 U.S.C. 1505 and Treasury Decision 85-93, published in the Federal Register on May 29, 1985 (50 FR 21832), the interest rate paid on applicable overpayments or underpayments of customs duties must be in accordance with the Internal Revenue Code rate established under 26 U.S.C. 6621 and 6622. Section 6621 provides different interest rates applicable to overpayments: One for corporations and one for non- corporations. The interest rates are based on the Federal short-term rate and determined by the Internal Revenue Service (IRS) on behalf of the Secretary of the Treasury on a quarterly basis. The rates effective for a quarter are determined during the first-month period of the previous quarter. In Revenue Ruling 2015-23, the IRS determined the rates of interest for the calendar quarter beginning January 1, 2016, and ending on March 31, 2016. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (1%) plus two percentage points (2%) for a total of three percent (3%) for both corporations and non- corporations. For corporate overpayments, the rate is the Federal short-term rate (1%) plus one percentage point (1%) for a total of two percent (2%). For overpayments made by non-corporations, the rate is the Federal short-term rate (1%) plus two percentage points (2%) for a total of three percent (3%). These interest rates are subject to change for the calendar quarter beginning April 1, 2016, and ending June 30, 2016. For the convenience of the importing public and U.S. Customs and Border Protection personnel the following list of IRS interest rates used, covering the period from before July of 1974 to date, to calculate interest on overdue [[Page 6527]] accounts and refunds of customs duties, is published in summary format. ---------------------------------------------------------------------------------------------------------------- Corporate Under-payments Over-payments overpayments Beginning date Ending date (percent) (percent) (Eff. 1-1-99) (percent) ---------------------------------------------------------------------------------------------------------------- 070174.................................. 063075 6 6 ................ 070175.................................. 013176 9 9 ................ 020176.................................. 013178 7 7 ................ 020178.................................. 013180 6 6 ................ 020180.................................. 013182 12 12 ................ 020182.................................. 123182 20 20 ................ 010183.................................. 063083 16 16 ................ 070183.................................. 123184 11 11 ................ 010185.................................. 063085 13 13 ................ 070185.................................. 123185 11 11 ................ 010186.................................. 063086 10 10 ................ 070186.................................. 123186 9 9 ................ 010187.................................. 093087 9 8 ................ 100187.................................. 123187 10 9 ................ 010188.................................. 033188 11 10 ................ 040188.................................. 093088 10 9 ................ 100188.................................. 033189 11 10 ................ 040189.................................. 093089 12 11 ................ 100189.................................. 033191 11 10 ................ 040191.................................. 123191 10 9 ................ 010192.................................. 033192 9 8 ................ 040192.................................. 093092 8 7 ................ 100192.................................. 063094 7 6 ................ 070194.................................. 093094 8 7 ................ 100194.................................. 033195 9 8 ................ 040195.................................. 063095 10 9 ................ 070195.................................. 033196 9 8 ................ 040196.................................. 063096 8 7 ................ 070196.................................. 033198 9 8 ................ 040198.................................. 123198 8 7 ................ 010199.................................. 033199 7 7 6 040199.................................. 033100 8 8 7 040100.................................. 033101 9 9 8 040101.................................. 063001 8 8 7 070101.................................. 123101 7 7 6 010102.................................. 123102 6 6 5 010103.................................. 093003 5 5 4 100103.................................. 033104 4 4 3 040104.................................. 063004 5 5 4 070104.................................. 093004 4 4 3 100104.................................. 033105 5 5 4 040105.................................. 093005 6 6 5 100105.................................. 063006 7 7 6 070106.................................. 123107 8 8 7 010108.................................. 033108 7 7 6 040108.................................. 063008 6 6 5 070108.................................. 093008 5 5 4 100108.................................. 123108 6 6 5 010109.................................. 033109 5 5 4 040109.................................. 123110 4 4 3 010111.................................. 033111 3 3 2 040111.................................. 093011 4 4 3 100111.................................. 033116 3 3 2 ---------------------------------------------------------------------------------------------------------------- Dated: February 3, 2016. R. Gil Kerlikowske, Commissioner. [FR Doc. 2016-02402 Filed 2-5-16; 8:45 am] BILLING CODE 9111-14-P
![6526 Federal Register / Vol. 81, No. 25 / Monday, February 8, 2016 / Notices
published to obtain comments from the Abstract: CBP Form 3495, Application rates for overpayments will be 2 percent
public and affected agencies. for Exportation of Articles Under for corporations and 3 percent for non-
DATES: Written comments should be Special Bond, is an application for corporations, and the interest rate for
received on or before March 9, 2016 to exportation of articles entered under underpayments will be 3 percent for
be assured of consideration. temporary bond pursuant to 19 U.S.C. both corporations and non-corporations.
ADDRESSES: Interested persons are 1202, Chapter 98, subchapter XIII, This notice is published for the
invited to submit written comments on Harmonized Tariff Schedule of the convenience of the importing public
this proposed information collection to United States, and 19 CFR 10.38. CBP and U.S. Customs and Border Protection
the Office of Information and Regulatory Form 3495 is used by importers to personnel.
Affairs, Office of Management and notify CBP that the importer intends to DATES: Effective Date: January 1, 2016.
Budget. Comments should be addressed export goods that were subject to a duty
FOR FURTHER INFORMATION CONTACT:
to the OMB Desk Officer for Customs exemption based on a temporary stay in
this country. It also serves as a permit Michael P. Dean, Revenue Division,
and Border Protection, Department of Collection and Refunds Branch, 6650
Homeland Security, and sent via to export in order to satisfy the
importer’s obligation to export the same Telecom Drive, Suite #100,
electronic mail to oira_submission@ Indianapolis, Indiana 46278; telephone
omb.eop.gov or faxed to (202) 395–5806. goods and thereby get a duty exemption.
This form is accessible at: http:// (317) 614–4882.
FOR FURTHER INFORMATION CONTACT:
www.cbp.gov/newsroom/publications/ SUPPLEMENTARY INFORMATION:
Requests for additional information
should be directed to Tracey Denning, forms?title=3495&=Apply. Background
U.S. Customs and Border Protection, Current Actions: CBP proposes to
Regulations and Rulings, Office of extend the expiration date of this Pursuant to 19 U.S.C. 1505 and
International Trade, 90 K Street NE., information collection with no change Treasury Decision 85–93, published in
10th Floor, Washington, DC 20229– to the burden hours or to the the Federal Register on May 29, 1985
1177, at 202–325–0265. information being collected. (50 FR 21832), the interest rate paid on
Type of Review: Extension (without applicable overpayments or
SUPPLEMENTARY INFORMATION: This
change). underpayments of customs duties must
proposed information collection was Affected Public: Businesses. be in accordance with the Internal
previously published in the Federal Estimated Number of Respondents: Revenue Code rate established under 26
Register (80 FR 62085) on October 15, 500. U.S.C. 6621 and 6622. Section 6621
2015, allowing for a 60-day comment Estimated Number of Responses per provides different interest rates
period. This notice allows for an Respondent: 30. applicable to overpayments: One for
additional 30 days for public comments. Estimated Total Annual Responses: corporations and one for non-
This process is conducted in accordance 15,000. corporations.
with 5 CFR 1320.10. CBP invites the Estimated Time per Response: 8
general public and other Federal The interest rates are based on the
minutes. Federal short-term rate and determined
agencies to comment on proposed and/ Estimated Total Annual Burden
or continuing information collections by the Internal Revenue Service (IRS) on
Hours: 2,000. behalf of the Secretary of the Treasury
pursuant to the Paperwork Reduction
Act of 1995 (Pub. L. 104–13; 44 U.S.C. Dated: February 1, 2016. on a quarterly basis. The rates effective
3507). The comments should address: Tracey Denning, for a quarter are determined during the
(a) Whether the collection of Agency Clearance Officer, U.S. Customs and first-month period of the previous
information is necessary for the proper Border Protection. quarter.
performance of the functions of the [FR Doc. 2016–02398 Filed 2–5–16; 8:45 am] In Revenue Ruling 2015–23, the IRS
agency, including whether the BILLING CODE 9111–14–P determined the rates of interest for the
information shall have practical utility; calendar quarter beginning January 1,
(b) the accuracy of the agency’s 2016, and ending on March 31, 2016.
estimates of the burden of the collection DEPARTMENT OF HOMELAND The interest rate paid to the Treasury for
of information; (c) ways to enhance the SECURITY underpayments will be the Federal
quality, utility, and clarity of the short-term rate (1%) plus two
U.S. Customs and Border Protection percentage points (2%) for a total of
information to be collected; (d) ways to
minimize the burden, including the use three percent (3%) for both corporations
Quarterly IRS Interest Rates Used in and non-corporations. For corporate
of automated collection techniques or Calculating Interest on Overdue
the use of other forms of information overpayments, the rate is the Federal
Accounts and Refunds on Customs short-term rate (1%) plus one
technology; and (e) the annual costs to Duties
respondents or record keepers from the percentage point (1%) for a total of two
collection of information (total capital/ AGENCY: U.S. Customs and Border percent (2%). For overpayments made
startup costs and operations and Protection, Department of Homeland by non-corporations, the rate is the
maintenance costs). The comments that Security. Federal short-term rate (1%) plus two
are submitted will be summarized and ACTION: General notice.
percentage points (2%) for a total of
included in the CBP request for OMB three percent (3%). These interest rates
SUMMARY: This notice advises the public are subject to change for the calendar
asabaliauskas on DSK5VPTVN1PROD with NOTICES
approval. All comments will become a
matter of public record. In this that the quarterly Internal Revenue quarter beginning April 1, 2016, and
document, CBP is soliciting comments Service interest rates used to calculate ending June 30, 2016.
concerning the following information interest on overdue accounts For the convenience of the importing
collection: (underpayments) and refunds public and U.S. Customs and Border
Title: Application for Exportation of (overpayments) of customs duties Protection personnel the following list
Articles under Special Bond. remain unchanged from the previous of IRS interest rates used, covering the
OMB Number: 1651–0004. quarter. For the calendar quarter period from before July of 1974 to date,
Form Number: CBP Form 3495. beginning January 1, 2016, the interest to calculate interest on overdue
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![Federal Register / Vol. 81, No. 25 / Monday, February 8, 2016 / Notices 6527
accounts and refunds of customs duties,
is published in summary format.
Corporate over-
Ending Under-payments Over-payments payments
Beginning date date (percent) (percent) (Eff. 1–1–99)
(percent)
070174 ............................................................................................. 063075 6 6 ............................
070175 ............................................................................................. 013176 9 9 ............................
020176 ............................................................................................. 013178 7 7 ............................
020178 ............................................................................................. 013180 6 6 ............................
020180 ............................................................................................. 013182 12 12 ............................
020182 ............................................................................................. 123182 20 20 ............................
010183 ............................................................................................. 063083 16 16 ............................
070183 ............................................................................................. 123184 11 11 ............................
010185 ............................................................................................. 063085 13 13 ............................
070185 ............................................................................................. 123185 11 11 ............................
010186 ............................................................................................. 063086 10 10 ............................
070186 ............................................................................................. 123186 9 9 ............................
010187 ............................................................................................. 093087 9 8 ............................
100187 ............................................................................................. 123187 10 9 ............................
010188 ............................................................................................. 033188 11 10 ............................
040188 ............................................................................................. 093088 10 9 ............................
100188 ............................................................................................. 033189 11 10 ............................
040189 ............................................................................................. 093089 12 11 ............................
100189 ............................................................................................. 033191 11 10 ............................
040191 ............................................................................................. 123191 10 9 ............................
010192 ............................................................................................. 033192 9 8 ............................
040192 ............................................................................................. 093092 8 7 ............................
100192 ............................................................................................. 063094 7 6 ............................
070194 ............................................................................................. 093094 8 7 ............................
100194 ............................................................................................. 033195 9 8 ............................
040195 ............................................................................................. 063095 10 9 ............................
070195 ............................................................................................. 033196 9 8 ............................
040196 ............................................................................................. 063096 8 7 ............................
070196 ............................................................................................. 033198 9 8 ............................
040198 ............................................................................................. 123198 8 7 ............................
010199 ............................................................................................. 033199 7 7 6
040199 ............................................................................................. 033100 8 8 7
040100 ............................................................................................. 033101 9 9 8
040101 ............................................................................................. 063001 8 8 7
070101 ............................................................................................. 123101 7 7 6
010102 ............................................................................................. 123102 6 6 5
010103 ............................................................................................. 093003 5 5 4
100103 ............................................................................................. 033104 4 4 3
040104 ............................................................................................. 063004 5 5 4
070104 ............................................................................................. 093004 4 4 3
100104 ............................................................................................. 033105 5 5 4
040105 ............................................................................................. 093005 6 6 5
100105 ............................................................................................. 063006 7 7 6
070106 ............................................................................................. 123107 8 8 7
010108 ............................................................................................. 033108 7 7 6
040108 ............................................................................................. 063008 6 6 5
070108 ............................................................................................. 093008 5 5 4
100108 ............................................................................................. 123108 6 6 5
010109 ............................................................................................. 033109 5 5 4
040109 ............................................................................................. 123110 4 4 3
010111 ............................................................................................. 033111 3 3 2
040111 ............................................................................................. 093011 4 4 3
100111 ............................................................................................. 033116 3 3 2
Dated: February 3, 2016.
R. Gil Kerlikowske,
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Commissioner.
[FR Doc. 2016–02402 Filed 2–5–16; 8:45 am]
BILLING CODE 9111–14–P
VerDate Sep<11>2014 17:51 Feb 05, 2016 Jkt 238001 PO 00000 Frm 00027 Fmt 4703 Sfmt 9990 E:\FR\FM\08FEN1.SGM 08FEN1](https://thefederalregister.org/doc/81_FR_6551/page/2.svg)
Document Created: 2016-02-06 00:24:26
Document Modified: 2016-02-06 00:24:26
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | General notice. | |
| Contact | Michael P. Dean, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 614-4882. | |
| FR Citation | 81 FR 6526 |
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