83 FR 54130 - 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 208 (October 26, 2018)
U.S. Customs and Border Protection
Federal Register Volume 83, Issue 208 (October 26, 2018)
| Page Range | 54130-54131 | |
| FR Document | 2018-23469 |
[Federal Register Volume 83, Number 208 (Friday, October 26, 2018)] [Notices] [Pages 54130-54131] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-23469] [[Page 54130]] ----------------------------------------------------------------------- DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection [ADM-9-03 OT:RR:RD:TC H300753 MS] 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 will remain the same from the previous quarter. For the calendar quarter beginning October 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 October 1, 2018. FOR FURTHER INFORMATION CONTACT: Bruce Ingalls, Revenue Division, Collection Refunds & Analysis 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 2018-25, the IRS determined the rates of interest for the calendar quarter beginning October 1, 2018, and ending on December 31, 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 January 1, 2019, and ending March 31, 2019. 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. ---------------------------------------------------------------------------------------------------------------- Corporate Under payments Overpayments 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 [[Page 54131]] 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.......................................... 123118 5 5 4 ---------------------------------------------------------------------------------------------------------------- Dated: October 23, 2018. Samuel D. Grable, Assistant Commissioner and Chief Financial Officer, Office of Finance. [FR Doc. 2018-23469 Filed 10-25-18; 8:45 am] BILLING CODE 9111-14-P
![54130 Federal Register / Vol. 83, No. 208 / Friday, October 26, 2018 / Notices
DEPARTMENT OF HOMELAND DATES: The rates announced in this In Revenue Ruling 2018–25, the IRS
SECURITY notice are applicable as of October 1, determined the rates of interest for the
2018. calendar quarter beginning October 1,
U.S. Customs and Border Protection 2018, and ending on December 31, 2018.
FOR FURTHER INFORMATION CONTACT:
The interest rate paid to the Treasury for
[ADM–9–03 OT:RR:RD:TC H300753 MS] Bruce Ingalls, Revenue Division,
underpayments will be the Federal
Collection Refunds & Analysis Branch,
short-term rate (2%) plus three
Quarterly IRS Interest Rates Used in 6650 Telecom Drive, Suite #100,
percentage points (3%) for a total of five
Calculating Interest on Overdue Indianapolis, Indiana 46278; telephone
percent (5%) for both corporations and
Accounts and Refunds on Customs (317) 298–1107.
non-corporations. For corporate
Duties SUPPLEMENTARY INFORMATION: overpayments, the rate is the Federal
AGENCY: U.S. Customs and Border Background short-term rate (2%) plus two
Protection, Department of Homeland percentage points (2%) for a total of four
Security. Pursuant to 19 U.S.C. 1505 and percent (4%). For overpayments made
ACTION: General notice.
Treasury Decision 85–93, published in by non-corporations, the rate is the
the Federal Register on May 29, 1985 Federal short-term rate (2%) plus three
SUMMARY: This notice advises the public (50 FR 21832), the interest rate paid on percentage points (3%) for a total of five
that the quarterly Internal Revenue applicable overpayments or percent (5%). These interest rates used
Service interest rates used to calculate underpayments of customs duties must to calculate interest on overdue
interest on overdue accounts be in accordance with the Internal accounts (underpayments) and refunds
(underpayments) and refunds Revenue Code rate established under 26 (overpayments) of customs duties are
(overpayments) of customs duties will U.S.C. 6621 and 6622. Section 6621 the same from the previous quarter.
remain the same from the previous provides different interest rates These interest rates are subject to
quarter. For the calendar quarter applicable to overpayments: One for change for the calendar quarter
beginning October 1, 2018, the interest corporations and one for non- beginning January 1, 2019, and ending
rates for overpayments will be 4 percent corporations. March 31, 2019.
for corporations and 5 percent for non- The interest rates are based on the For the convenience of the importing
corporations, and the interest rate for Federal short-term rate and determined public and U.S. Customs and Border
underpayments will be 5 percent for by the Internal Revenue Service (IRS) on Protection personnel the following list
both corporations and non-corporations. behalf of the Secretary of the Treasury of IRS interest rates used, covering the
This notice is published for the on a quarterly basis. The rates effective period from July of 1974 to date, to
convenience of the importing public for a quarter are determined during the calculate interest on overdue accounts
and U.S. Customs and Border Protection first-month period of the previous and refunds of customs duties, is
personnel. quarter. published in summary format.
Corporate
Under Overpayments overpayments
Beginning date Ending date payments (percent) (Eff. 1–1–99)
(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
khammond on DSK30JT082PROD with NOTICES
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
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![Federal Register / Vol. 83, No. 208 / Friday, October 26, 2018 / Notices 54131
Corporate
Under Overpayments overpayments
Beginning date Ending date payments (percent) (Eff. 1–1–99)
(percent) (percent)
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 ............................................................................................................. 123118 5 5 4
Dated: October 23, 2018. for reporting and drawing funds: 97.030, EM), dated September 10, 2018, and
Samuel D. Grable, Community Disaster Loans; 97.031, Cora related determinations.
Assistant Commissioner and Chief Financial Brown Fund; 97.032, Crisis Counseling;
Officer, Office of Finance. 97.033, Disaster Legal Services; 97.034, DATES:This amendment was issued
Disaster Unemployment Assistance (DUA); October 10, 2018.
[FR Doc. 2018–23469 Filed 10–25–18; 8:45 am]
97.046, Fire Management Assistance Grant;
BILLING CODE 9111–14–P 97.048, Disaster Housing Assistance to FOR FURTHER INFORMATION CONTACT:
Individuals and Households In Presidentially Dean Webster, Office of Response and
Declared Disaster Areas; 97.049, Recovery, Federal Emergency
DEPARTMENT OF HOMELAND Presidentially Declared Disaster Assistance— Management Agency, 500 C Street SW,
SECURITY Disaster Housing Operations for Individuals
Washington, DC 20472, (202) 646–2833.
and Households; 97.050, Presidentially
Federal Emergency Management Declared Disaster Assistance to Individuals SUPPLEMENTARY INFORMATION: Notice is
Agency and Households—Other Needs; 97.036, hereby given that the incident period for
Disaster Grants—Public Assistance
[Internal Agency Docket No. FEMA–4393– this emergency is closed effective
(Presidentially Declared Disasters); 97.039,
DR; Docket ID FEMA–2018–0001] Hazard Mitigation Grant.) September 29, 2018.
(The following Catalog of Federal Domestic
North Carolina; Amendment No. 4 to Brock Long,
Assistance Numbers (CFDA) are to be used
Notice of a Major Disaster Declaration Administrator, Federal Emergency for reporting and drawing funds: 97.030,
Management Agency.
AGENCY: Federal Emergency Community Disaster Loans; 97.031, Cora
[FR Doc. 2018–23378 Filed 10–25–18; 8:45 am]
Management Agency, DHS. Brown Fund; 97.032, Crisis Counseling;
BILLING CODE 9111–11–P 97.033, Disaster Legal Services; 97.034,
ACTION: Notice.
Disaster Unemployment Assistance (DUA);
SUMMARY: This notice amends the notice 97.046, Fire Management Assistance Grant;
DEPARTMENT OF HOMELAND 97.048, Disaster Housing Assistance to
of a major disaster declaration for the
SECURITY Individuals and Households In Presidentially
State of North Carolina (FEMA–4393–
DR), dated September 14, 2018, and Federal Emergency Management Declared Disaster Areas; 97.049,
related determinations. Presidentially Declared Disaster Assistance—
Agency
DATES: This amendment was issued Disaster Housing Operations for Individuals
October 10, 2018. and Households; 97.050, Presidentially
[Internal Agency Docket No. FEMA–3401–
EM; Docket ID FEMA–2018–0001] Declared Disaster Assistance to Individuals
FOR FURTHER INFORMATION CONTACT:
and Households—Other Needs; 97.036,
Dean Webster, Office of Response and
North Carolina; Amendment No. 1 to Disaster Grants—Public Assistance
Recovery, Federal Emergency (Presidentially Declared Disasters); 97.039,
Management Agency, 500 C Street SW, Notice of an Emergency Declaration
Hazard Mitigation Grant.)
khammond on DSK30JT082PROD with NOTICES
Washington, DC 20472, (202) 646–2833. AGENCY: Federal Emergency
SUPPLEMENTARY INFORMATION: Notice is Management Agency, DHS. Brock Long,
hereby given that the incident period for ACTION: Notice.
Administrator, Federal Emergency
this disaster is closed effective Management Agency.
September 29, 2018. SUMMARY: This notice amends the notice [FR Doc. 2018–23381 Filed 10–25–18; 8:45 am]
(The following Catalog of Federal Domestic of an emergency declaration for the BILLING CODE 9111–11–P
Assistance Numbers (CFDA) are to be used State of North Carolina (FEMA–3401–
VerDate Sep<11>2014 18:32 Oct 25, 2018 Jkt 247001 PO 00000 Frm 00052 Fmt 4703 Sfmt 4703 E:\FR\FM\26OCN1.SGM 26OCN1](https://thefederalregister.org/doc/83_FR_54338/page/2.svg)
Document Created: 2018-10-26 02:27:09
Document Modified: 2018-10-26 02:27:09
| 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. | |
| Dates | The rates announced in this notice are applicable as of October 1, 2018. | |
| Contact | Bruce Ingalls, Revenue Division, Collection Refunds & Analysis Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 298-1107. | |
| FR Citation | 83 FR 54130 |
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