83_FR_19377 83 FR 19292 - Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties

83 FR 19292 - 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 83, Issue 85 (May 2, 2018)

Page Range19292-19293
FR Document2018-09287

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 will increase from the previous quarter. For the calendar quarter beginning April 1, 2018, the interest rates for overpayments will be 4 percent for corporations and 5 percent for non-corporations, and the interest rate for underpayments will be 5 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.

Federal Register, Volume 83 Issue 85 (Wednesday, May 2, 2018) 
[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Pages 19292-19293]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09287]


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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.

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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 
will increase from the previous quarter. For the calendar quarter 
beginning April 1, 2018, the interest rates for overpayments will be 4 
percent for corporations and 5 percent for non-corporations, and the 
interest rate for underpayments will be 5 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: The rates announced in this notice are applicable as of April 1, 
2018.

FOR FURTHER INFORMATION CONTACT: Bruce W. Ingalls, Revenue Division, 
Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, 
Indianapolis, Indiana 46278; telephone (317) 298-1107.

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 2018-07, the IRS determined the rates of interest 
for the calendar quarter beginning April 1, 2018, and ending on June 
30, 2018. The interest rate paid to the Treasury for underpayments will 
be the Federal short-term rate (2%) plus three percentage points (3%) 
for a total of five percent (5%) for both corporations and non-
corporations. For corporate overpayments, the rate is the Federal 
short-term rate (2%) plus two percentage points (2%) for a total of 
four percent (4%). For overpayments made by non-corporations, the rate 
is the Federal short-term rate (2%) plus three percentage points (3%) 
for a total of five percent (5%). These interest rates used to 
calculate interest on overdue accounts (underpayments) and refunds 
(overpayments) of customs duties are the same from the previous 
quarter. These interest rates are subject to change for the calendar 
quarter beginning July 1, 2018, and ending September 30, 2018.
    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 July of 1974 to date, to calculate 
interest on overdue accounts and refunds of customs duties, is 
published in summary format.

[[Page 19293]]



----------------------------------------------------------------------------------------------------------------
                                                                                                     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
040116..........................................          033118               4               4               3
040118..........................................          063018               5               5               4
----------------------------------------------------------------------------------------------------------------


    Dated: April 23, 2018.
Samuel D. Grable,
Assistant Commissioner and Chief Financial Officer, Office of Finance.
[FR Doc. 2018-09287 Filed 5-1-18; 8:45 am]
 BILLING CODE 9111-14-P

19292 Federal Register / Vol. 83, No. 85 / Wednesday, May 2, 2018 / Notices [FR Doc. 2018–09361 Filed 4–30–18; 4:15 pm] public and U.S. Customs and Border In Revenue Ruling 2018–07, the IRS BILLING CODE 4150–24–C Protection personnel. determined the rates of interest for the DATES: The rates announced in this calendar quarter beginning April 1, notice are applicable as of April 1, 2018. 2018, and ending on June 30, 2018. The FOR FURTHER INFORMATION CONTACT: interest rate paid to the Treasury for DEPARTMENT OF HOMELAND Bruce W. Ingalls, Revenue Division, underpayments will be the Federal SECURITY Collection and Refunds Branch, 6650 short-term rate (2%) plus three Telecom Drive, Suite #100, percentage points (3%) for a total of five U.S. Customs and Border Protection percent (5%) for both corporations and Indianapolis, Indiana 46278; telephone (317) 298–1107. non-corporations. For corporate Quarterly IRS Interest Rates Used in overpayments, the rate is the Federal Calculating Interest on Overdue SUPPLEMENTARY INFORMATION: short-term rate (2%) plus two Accounts and Refunds on Customs Background percentage points (2%) for a total of four Duties percent (4%). For overpayments made Pursuant to 19 U.S.C. 1505 and AGENCY: U.S. Customs and Border Treasury Decision 85–93, published in by non-corporations, the rate is the Protection, Department of Homeland the Federal Register on May 29, 1985 Federal short-term rate (2%) plus three Security. (50 FR 21832), the interest rate paid on percentage points (3%) for a total of five ACTION: General notice. applicable overpayments or percent (5%). These interest rates used underpayments of customs duties must to calculate interest on overdue SUMMARY: This notice advises the public be in accordance with the Internal accounts (underpayments) and refunds that the quarterly Internal Revenue Revenue Code rate established under 26 (overpayments) of customs duties are Service interest rates used to calculate U.S.C. 6621 and 6622. Section 6621 the same from the previous quarter. interest on overdue accounts provides different interest rates These interest rates are subject to (underpayments) and refunds applicable to overpayments: One for change for the calendar quarter (overpayments) of customs duties will corporations and One for non- beginning July 1, 2018, and ending increase from the previous quarter. For corporations. September 30, 2018. the calendar quarter beginning April 1, The interest rates are based on the For the convenience of the importing 2018, the interest rates for overpayments Federal short-term rate and determined public and U.S. Customs and Border will be 4 percent for corporations and 5 by the Internal Revenue Service (IRS) on Protection personnel the following list percent for non-corporations, and the behalf of the Secretary of the Treasury of IRS interest rates used, covering the interest rate for underpayments will be on a quarterly basis. The rates effective period from July of 1974 to date, to 5 percent for both corporations and non- for a quarter are determined during the calculate interest on overdue accounts daltland on DSKBBV9HB2PROD with NOTICES corporations. This notice is published first-month period of the previous and refunds of customs duties, is for the convenience of the importing quarter. published in summary format. EN02MY18.004</GPH> VerDate Sep<11>2014 22:14 May 01, 2018 Jkt 244001 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 E:\FR\FM\02MYN1.SGM 02MYN1

Federal Register / Vol. 83, No. 85 / Wednesday, May 2, 2018 / Notices 19293 Corporate Under Over overpayments Beginning date Ending date payments payments (eff. 1–1–99) (percent) (percent) (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 040116 ............................................................................................................. 033118 4 4 3 040118 ............................................................................................................. 063018 5 5 4 Dated: April 23, 2018. DEPARTMENT OF HOMELAND ACTION: Notice of final determination. Samuel D. Grable, SECURITY Assistant Commissioner and Chief Financial SUMMARY: This document provides Officer, Office of Finance. U.S. Customs and Border Protection notice that U.S. Customs and Border [FR Doc. 2018–09287 Filed 5–1–18; 8:45 am] Protection (‘‘CBP’’) has issued a final daltland on DSKBBV9HB2PROD with NOTICES Notice of Issuance of Final determination concerning the country of BILLING CODE 9111–14–P Determination Concerning origin of certain gyrocompasses. Based Gyrocompasses upon the facts presented, CBP has concluded that the country of origin of AGENCY: U.S. Customs and Border the gyrocompasses is the United States Protection, Department of Homeland for purposes of U.S. Government Security. procurement. VerDate Sep<11>2014 22:14 May 01, 2018 Jkt 244001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\02MYN1.SGM 02MYN1


Document Created: 2018-05-02 00:49:18
Document Modified: 2018-05-02 00:49:18
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionGeneral notice.
DatesThe rates announced in this notice are applicable as of April 1, 2018.
ContactBruce W. Ingalls, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 298-1107.
FR Citation83 FR 19292 
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