Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 7056-7057 [06-1230]

Download as PDF 7056 Federal Register / Vol. 71, No. 28 / Friday, February 10, 2006 / Notices Ron Wyman, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 614–4516. SUPPLEMENTARY INFORMATION: FOR FURTHER INFORMATION CONTACT: DEPARTMENT OF HOMELAND SECURITY Customs and Border Protection Bureau Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties Background Customs and Border Protection, Department of Homeland Security. ACTION: General notice. AGENCY: SUMMARY: This notice advises the public of the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties. For the calendar quarter beginning January 1, 2006, the interest rates for overpayments will be 6 percent for corporations and 7 percent for noncorporations, and the interest rate for underpayments will be 7 percent. This notice is published for the convenience of the importing public and Customs and Border Protection personnel. DATES: Effective January 1, 2006. 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 was amended (at paragraph (a)(1)(B) by the Internal Revenue Service Restructuring and Reform Act of 1998, Public Law 105–206, 112 Stat. 685) to provide 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 rmajette on PROD1PC67 with NOTICES1 Beginning date 070174 070175 020176 020178 020180 020182 010183 070183 010185 070185 010186 070186 010187 100187 010188 040188 100188 040189 100189 040191 010192 040192 100192 070194 100194 040195 070195 040196 070196 040198 010199 040199 040100 040101 070101 010102 010103 Ending date ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. VerDate Aug<31>2005 15:10 Feb 09, 2006 Jkt 208001 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 first-month period of the previous quarter. In Revenue Ruling 2005–78, the IRS determined the rates of interest for the calendar quarter beginning January 1, 2006, and ending March 31, 2006. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (4%) plus three percentage points (3%) for a total of seven percent (7%). For corporate overpayments, the rate is the Federal short-term rate (4%) plus two percentage points (2%) for a total of six percent (6%). For overpayments made by non-corporations, the rate is the Federal short-term rate (4%) plus three percentage points (3%) for a total of seven percent (7%). These interest rates are subject to change for the calendar quarter beginning April 1, 2006, and ending June 30, 2006. For the convenience of the importing public and 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 accounts and refunds of customs duties, is published in summary format. Under payments (percent) 063075 013176 013178 013180 013182 123182 063083 123184 063085 123185 063086 123186 093087 123187 033188 093088 033189 093089 033191 123191 033192 093092 063094 093094 033195 063095 033196 063096 033198 123198 033199 033100 033101 063001 123101 123102 093003 E:\FR\FM\10FEN1.SGM Corporate overpayments (Eff. 1–1–99) (percent) Over payments (percent) 6 9 7 6 12 20 16 11 13 11 10 9 9 10 11 10 11 12 11 10 9 8 7 8 9 10 9 8 9 8 7 8 9 8 7 6 5 10FEN1 6 9 7 6 12 20 16 11 13 11 10 9 8 9 10 9 10 11 10 9 8 7 6 7 8 9 8 7 8 7 7 8 9 8 7 6 5 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6 7 8 7 6 5 4 7057 Federal Register / Vol. 71, No. 28 / Friday, February 10, 2006 / Notices Beginning date 100103 040104 070104 100104 040105 100105 Ending date ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. Dated: February 7, 2006. Deborah J. Spero, Acting Commissioner, Customs and Border Protection. [FR Doc. 06–1230 Filed 2–9–06; 8:45 am] Transportation Security Administration Drivers Licensed in Canada or Mexico Transporting Hazardous Materials Within the United States Transportation Security Administration, DHS. ACTION: Notice. rmajette on PROD1PC67 with NOTICES1 AGENCY: SUMMARY: This Notice announces an extension of the deadline for implementation of Section 7105 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users. This provision requires operators of commercial motor vehicles registered to operate in Canada or Mexico who transport placarded loads of hazardous materials or any quantity of a material listed as a select agent or toxin in 42 CFR part 73 within the United States to undergo a background check similar to that required for U.S. operators with a hazardous materials endorsement. The Transportation Security Administration is extending the implementation deadline for the requirements under Section 7105 from February 10, 2006 to August 10, 2006, unless the Transportation Security Administration issues a Notice or other regulatory action before that date with an earlier date for implementing the requirements under the statute. DATES: Effective upon publication in the Federal Register. FOR FURTHER INFORMATION CONTACT: Mr. Stephen Sadler, Director, Maritime and Surface Credentialing, Office of Transportation Threat Assessment and Credentialing, TSA–19, Transportation Security Administration, 601 South 12th Street, Arlington, VA 22202–4220; telephone (571) 227–2492; facsimile 15:10 Feb 09, 2006 Jkt 208001 Issued in Arlington, Virginia, on February 6, 2006. Kip Hawley, Assistant Secretary. [FR Doc. 06–1247 Filed 2–7–06; 1:47 pm] BILLING CODE 4910–62–M 1 Pub. L. 109–59, August 10, 2005, sec. 7105, codified at 49 U.S.C. 5103a(h). Frm 00056 Fmt 4703 Sfmt 4703 4 5 4 5 6 7 4 5 4 5 6 7 3 4 3 4 5 6 Bureau of Land Management On August 10, 2005, the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA– LU) 1 was enacted. Section 7105 of the SAFETEA–LU provides that a commercial motor vehicle operator registered to operate in Canada or Mexico shall not operate a commercial motor vehicle transporting hazardous materials in commerce in the United States until the operator has undergone a background records check similar to that required of commercial motor vehicle operators licensed in the United States to transport hazardous materials in commerce. This requirement becomes effective 6 months after enactment of the SAFETEA–LU, which would be February 10, 2006. However, the statute also gives TSA the discretion to extend the implementation date an additional six months if necessary. This Notice announces TSA’s decision to extend the implementation date until such time as TSA issues a separate notice or regulatory action to implement the SAFETEA–LU requirements, but no later than August 10, 2006. Accordingly, the effective date of section 7105 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA–LU) is extended to August 10, 2006, unless TSA issues a Notice or other regulatory action before that date with an earlier date for implementing the requirements under the statute. PO 00000 Corporate overpayments (Eff. 1–1–99) (percent) Over payments (percent) DEPARTMENT OF THE INTERIOR SUPPLEMENTARY INFORMATION: DEPARTMENT OF HOMELAND SECURITY VerDate Aug<31>2005 033104 063004 093004 033105 093005 033106 (703) 603–0409; e-mail stephen.sadler@dhs.gov. BILLING CODE 9111–14–P Under payments (percent) [ES–020–06–1320–EL] Notice of Availability of the Environmental Assessment and Public Hearing for Coal Lease by Application KYES–50213 Bureau of Land Management, Interior. ACTION: Notice of availability of the Chas Coal LLC lease by application KYES– 50213 environmental assessment and Federal coal notice of public hearing, and request for Environmental Assessment, Maximum Economic Recovery, and Fair Market Value comments. AGENCY: SUMMARY: The Bureau of Land Management, Eastern States Office, Springfield, Virginia, hereby gives notice that an Environmental Assessment (EA) is available and a public hearing will be held to lease Federal coal pursuant to 43 Code of Federal Regulations (CFR) 3425.4. The EA analyzes and discloses direct, indirect, and cumulative environmental impacts of issuing competitively a Federal coal lease for 314.53 acres in the Daniel Boone National Forest (DBNF) Clay County, Kentucky. The purpose of the public hearing is to solicit comments from the public on (1) The proposal to issue a Federal coal lease; (2) the proposed competitive lease sale; (3) the Fair Market Value (FMV) of the Federal coal; and (4) Maximum Economic Recovery (MER) of the Federal coal included in the tracts. DATES: Written comments must be postmarked by March 13, 2006 and provided to the BLM Jackson Field Office (listed below). The public hearing will be held at the Clay County Public Library on February 27, 2006 at 6 pm. ADDRESSES: Written comments should be addressed to the Bureau of Land Management, Jackson Field Office, 411 Briarwood, Suite 404, Jackson, MS 39206 where copies of the EA are available upon request or for inspection. The public hearing will be held on E:\FR\FM\10FEN1.SGM 10FEN1

Agencies

[Federal Register Volume 71, Number 28 (Friday, February 10, 2006)]
[NO]
[Pages 7056-7057]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1230]



[[Page 7056]]

-----------------------------------------------------------------------

DEPARTMENT OF HOMELAND SECURITY

Customs and Border Protection Bureau


Quarterly IRS Interest Rates Used in Calculating Interest on 
Overdue Accounts and Refunds on Customs Duties

AGENCY: Customs and Border Protection, Department of Homeland Security.

ACTION: General notice.

-----------------------------------------------------------------------

SUMMARY: This notice advises the public of the quarterly Internal 
Revenue Service interest rates used to calculate interest on overdue 
accounts (underpayments) and refunds (overpayments) of customs duties. 
For the calendar quarter beginning January 1, 2006, the interest rates 
for overpayments will be 6 percent for corporations and 7 percent for 
non-corporations, and the interest rate for underpayments will be 7 
percent. This notice is published for the convenience of the importing 
public and Customs and Border Protection personnel.

DATES: Effective January 1, 2006.

FOR FURTHER INFORMATION CONTACT: Ron Wyman, Revenue Division, 
Collection and Refunds Branch, 6650 Telecom Drive, Suite 100, 
Indianapolis, Indiana 46278; telephone (317) 614-4516.

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 was amended (at paragraph 
(a)(1)(B) by the Internal Revenue Service Restructuring and Reform Act 
of 1998, Public Law 105-206, 112 Stat. 685) to provide 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 2005-78, the IRS determined the rates of interest 
for the calendar quarter beginning January 1, 2006, and ending March 
31, 2006. The interest rate paid to the Treasury for underpayments will 
be the Federal short-term rate (4%) plus three percentage points (3%) 
for a total of seven percent (7%). For corporate overpayments, the rate 
is the Federal short-term rate (4%) plus two percentage points (2%) for 
a total of six percent (6%). For overpayments made by non-corporations, 
the rate is the Federal short-term rate (4%) plus three percentage 
points (3%) for a total of seven percent (7%). These interest rates are 
subject to change for the calendar quarter beginning April 1, 2006, and 
ending June 30, 2006.
    For the convenience of the importing public and 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 accounts and refunds of customs duties, is 
published in summary format.

----------------------------------------------------------------------------------------------------------------
                                                                                                     Corporate
                                                                       Under      Over  payments   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  ..............
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

[[Page 7057]]

 
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..........................................          033106               7               7               6
----------------------------------------------------------------------------------------------------------------


    Dated: February 7, 2006.
Deborah J. Spero,
Acting Commissioner, Customs and Border Protection.
[FR Doc. 06-1230 Filed 2-9-06; 8:45 am]
BILLING CODE 9111-14-P