CBP Keeps Quarterly IRS Interest Rates for Overdue Accounts and Refunds Unchanged
CBP said in a Federal Register notice scheduled for Sept. 29 publication 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 in the…
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calendar quarter that begins Oct. 1 as in the current quarter, which ends Sept. 30. The interest rates for underpayments will be 7% for both corporations and non-corporations, according to CBP. The interest rate for overpayments will be 7% for non-corporations and 6% for corporations.