Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 4524-4525 [E7-1477]

Download as PDF 4524 Federal Register / Vol. 72, No. 20 / Wednesday, January 31, 2007 / Notices and personal information concerning individuals associated with the contract proposals, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. Name of Committee: National Institutes of Allergy and Infectious Diseases Special Emphasis Panel; System Approach to Immunity and Inflammation. Date: February 12–13, 2007. Time: 8 a.m. to 5 p.m. Agenda: To review and evaluate contract proposals. Place: Hyatt Regency Bethesda, One Bethesda Metro Center, 7400 Wisconsin Avenue, Bethesda, MD 20814. Contact Person: Mercy R. Prabhudas, PhD, Scientific Review Administrator, Scientific Review Program, Division of Extramural Activities, NIAID/NIH/DHHS, 6700B Rockledge Drive, MSC, 7616, Bethesda, MD 20892–7616, 301–451–2615, mp457n@nih.gov. This notice is being published less than 15 days prior to the meeting due to the timing limitations imposed by the review and funding cycle. Name of Committee: National Institute of Allergy and Infectious Diseases Special Emphasis Panel; Allergen & T-Cell Reagent Resources for the Study of Allergic Diseases. Date: February 15–16, 2007. Time: February 15, 2007, 8:30 a.m. to 6 p.m. Agenda: To review and evaluate contract proposals. Place: Bethesda North Marriott Hotel & Conference Ctr., 5701 Marinelli Road, North Bethesda, MD 20852. Time: February 16, 2007, 8:30 a.m. to 12 p.m. Agenda: To review and evaluate contract proposals. Place: Bethesda North Marriott Hotel & Conference Ctr., 5701 Marinelli Road, North Bethesda, MD 20852. Contact Person: Sujata Vijh, PhD, Scientific Review Administrator, Scientific Review Program, Division of Extramural Activities, NIAID/NIH/DHHS, 6700B Rockledge Drive, MSC 7616, Bethesda, MD 20892, 301–594– 0985, vijhs@niaid.nih.gov. This notice is being published less than 15 days prior to the meeting due to the timing limitations imposed by the review and funding cycle. (Catalogue of Federal Domestic Assistance Program Nos. 93.855, Allergy, Immunology, and Transplantation Research; 93.856, Microbiology and Infectious Diseases Research, National Institutes of Health, HHS) Dated: January 23, 2007. David Clary, Acting Director, Office of Federal Advisory Committee Policy. [FR Doc. 07–404 Filed 1–30–07; 8:45 am] BILLING CODE 4140–01–M DEPARTMENT OF HOMELAND SECURITY Customs and Border Protection Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties 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, 2007, the interest rates for overpayments will remain at 7 percent for corporations and 8 percent for noncorporations, and the interest rate for underpayments will remain at 8 percent. This notice is published for the convenience of the importing public and Customs and Border Protection personnel. EFFECTIVE DATE: January 1, 2007. 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 mstockstill on PROD1PC62 with NOTICES Beginning date 070174 070175 020176 020178 020180 020182 010183 070183 010185 070185 010186 070186 VerDate Aug<31>2005 15:08 Jan 30, 2007 Underpayments (percent) Ending date ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ Jkt 211001 063075 013176 013178 013180 013182 123182 063083 123184 063085 123185 063086 123186 PO 00000 (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, Pub. L. 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 2006–63, the IRS determined the rates of interest for the calendar quarter beginning January 1, 2007, and ending March 31, 2007. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (5%) plus three percentage points (3%) for a total of eight percent (8%). For corporate overpayments, the rate is the Federal short-term rate (5%) plus two percentage points (2%) for a total of seven percent (7%). For overpayments made by non-corporations, the rate is the Federal short-term rate (5%) plus three percentage points (3%) for a total of eight percent (8%). These interest rates are subject to change for the calendar quarter beginning January 1, 2007, and ending March 31, 2007. 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. ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... Frm 00048 Fmt 4703 Sfmt 4703 E:\FR\FM\31JAN1.SGM 6 9 7 6 12 20 16 11 13 11 10 9 31JAN1 Overpayments (percent) Corporate overpayments (eff. 1–1–99) (percent) 6 9 7 6 12 20 16 11 13 11 10 9 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4525 Federal Register / Vol. 72, No. 20 / Wednesday, January 31, 2007 / Notices Beginning date 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 100103 040104 070104 100104 040105 100105 070106 ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ Dated: January 25, 2007 Deborah J. Spero, Acting Commissioner, Customs and Border Protection. [FR Doc. E7–1477 Filed 1–30–07; 8:45 am] BILLING CODE 9111–14–P DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency Agency Information Collection Activities: Submission for OMB Review; Comment Request Federal Emergency Management Agency, DHS. ACTION: Notice and request for comments. mstockstill on PROD1PC62 with NOTICES AGENCY: SUMMARY: The Federal Emergency Management Agency (FEMA) has submitted the following information collection to the Office of Management and Budget (OMB) for review and clearance in accordance with the requirements of the Paperwork Reduction Act of 1995. The submission describes the nature of the information collection, the categories of respondents, the estimated burden (i.e., VerDate Aug<31>2005 15:08 Jan 30, 2007 Underpayments (percent) Ending date Jkt 211001 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 033104 063004 093004 033105 093005 063006 033107 ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... ........................................................... the time, effort and resources used by respondents to respond) and cost, and includes the actual data collection instruments FEMA will use. Title: Disaster Assistance Registration. OMB Number: 1660–0002. Abstract: Disaster Assistance Registration is a program used to provide financial assistance and, if necessary, direct assistance to eligible individuals and households who, as a direct result of a major disaster or emergency, have uninsured or underinsured, necessary expenses and serious needs and are unable to meet such expenses or needs through other financial means. Affected Public: Individuals and households, Business or other for-profit, Not-for-profit institutions, Farms, Federal Government, and State, Local or Tribal Government. Number of Respondents: 1,718,291. Estimated Time per Respondent: 40 minutes. Estimated Total Annual Burden Hours: 394,760. Frequency of Response: On occasion. Comments: Interested persons are invited to submit written comments on the proposed information collection to the Office of Information and Regulatory Affairs, Office of Management Budget, PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 Overpayments (percent) Corporate overpayments (eff. 1–1–99) (percent) 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 4 5 4 5 6 7 8 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6 7 8 7 6 5 4 3 4 3 4 5 6 7 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 4 5 4 5 6 7 8 Attention: Nathan Lesser, Desk Officer, Department of Homeland Security/ FEMA, and sent via electronic mail to oira_submission@omb.eop.gov or faxed to (202) 395–6974. Comments must be submitted on or before March 2, 2007. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the information collection should be made to Chief, Records Management and Privacy, FEMA, 500 C Street, SW., Room 609, Washington, DC 20472, facsimile number (202) 646– 3347, or e-mail address FEMAInformation-Collections@dhs.gov. Dated: January 25, 2007. John A. Sharetts-Sullivan, Chief, Records Management and Privacy, Information Resources Management Branch, Information Technology Services Division, Federal Emergency Management Agency, Department of Homeland Security. [FR Doc. E7–1499 Filed 1–30–07; 8:45 am] BILLING CODE 9110–10–P E:\FR\FM\31JAN1.SGM 31JAN1

Agencies

[Federal Register Volume 72, Number 20 (Wednesday, January 31, 2007)]
[Notices]
[Pages 4524-4525]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1477]


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DEPARTMENT OF HOMELAND SECURITY

Customs and Border Protection


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, 2007, the interest rates 
for overpayments will remain at 7 percent for corporations and 8 
percent for non-corporations, and the interest rate for underpayments 
will remain at 8 percent. This notice is published for the convenience 
of the importing public and Customs and Border Protection personnel.

EFFECTIVE DATE: January 1, 2007.

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, Pub. L. 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 2006-63, the IRS determined the rates of interest 
for the calendar quarter beginning January 1, 2007, and ending March 
31, 2007. The interest rate paid to the Treasury for underpayments will 
be the Federal short-term rate (5%) plus three percentage points (3%) 
for a total of eight percent (8%). For corporate overpayments, the rate 
is the Federal short-term rate (5%) plus two percentage points (2%) for 
a total of seven percent (7%). For overpayments made by non-
corporations, the rate is the Federal short-term rate (5%) plus three 
percentage points (3%) for a total of eight percent (8%). These 
interest rates are subject to change for the calendar quarter beginning 
January 1, 2007, and ending March 31, 2007.
    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
                                                                   Underpayments   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  ..............

[[Page 4525]]

 
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................................  033107..................               8               8               7
----------------------------------------------------------------------------------------------------------------


    Dated: January 25, 2007
Deborah J. Spero,
Acting Commissioner, Customs and Border Protection.
 [FR Doc. E7-1477 Filed 1-30-07; 8:45 am]
BILLING CODE 9111-14-P