Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 38240-38241 [E8-15173]
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38240
Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Notices
DEPARTMENT OF HOMELAND
SECURITY
U.S. Customs and Border Protection
Agency Information Collection
Activities: Line Release Regulations
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: 30-Day Notice and request for
comments; Extension of an existing
information collection: 1651–0075.
mstockstill on PROD1PC66 with NOTICES
AGENCY:
SUMMARY: U.S. Customs and Border
Protection (CBP) of the Department of
Homeland Security has submitted the
following information collection request
to the Office of Management and Budget
(OMB) for review and approval in
accordance with the Paperwork
Reduction Act of 1995: Line Release
Regulations. This is a proposed
extension of an information collection
that was previously approved. CBP is
proposing that this information
collection be extended with no change
to the burden hours. This document is
published to obtain comments from the
public and affected agencies. This
proposed information collection was
previously published in the Federal
Register (73 FR 22161) on April 24,
2008, allowing for a 60-day comment
period. This notice allows for an
additional 30 days for public comments.
This process is conducted in accordance
with 5 CFR 1320.10.
DATES: Written comments should be
received on or before August 4, 2008.
ADDRESSES: Interested persons are
invited to submit written comments on
the proposed information collection to
the Office of Information and Regulatory
Affairs, Office of Management and
Budget. Comments should be addressed
to the OMB Desk Officer for Customs
and Border Protection, Department of
Homeland Security, and sent via
electronic mail to
oira_submission@omb.eop.gov or faxed
to (202) 395–6974.
SUPPLEMENTARY INFORMATION: CBP
encourages the general public and
affected Federal agencies to submit
written comments and suggestions on
proposed and/or continuing information
collection requests pursuant to the
Paperwork Reduction Act of 1995 (Pub.
L. 104–13). Your comments should
address one of the following four points:
(1) Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency/component,
including whether the information will
have practical utility;
VerDate Aug<31>2005
16:46 Jul 02, 2008
Jkt 214001
(2) Evaluate the accuracy of the
agencies/components estimate of the
burden of the proposed collection of
information, including the validity of
the methodology and assumptions used;
(3) Enhance the quality, utility, and
clarity of the information to be
collected; and
(4) Minimize the burden of the
collections of information on those who
are to respond, including the use of
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., permitting
electronic submission of responses.
Title: Line Release Regulations.
OMB Number: 1651–0060.
Form Number: N/A.
Abstract: Line release was developed
to release and track high volume and
repetitive shipments using bar code
technology and PCS. An application is
submitted to CBP by the filer and a
common commodity classification code
(C4) is assigned to the application.
Current Actions: There are no changes
to the information collection. This
submission is being submitted to extend
the expiration date.
Type of Review: Extension (without
change).
Affected Public: Business or other forprofit institutions.
Estimated Number of Respondents:
25,700.
Estimated Time per Response: 15
minutes.
Estimated Total Annual Burden
Hours: 6,425.
If additional information is required
contact: Tracey Denning, U.S. Customs
and Border Protection, 1300
Pennsylvania Avenue, NW., Room
3.2.C, Washington, DC 20229, at 202–
344–1429.
Dated: June 26, 2008.
Tracey Denning,
Agency Clearance Officer, Customs and
Border Protection.
[FR Doc. E8–15163 Filed 7–2–08; 8:45 am]
BILLING CODE 9111–14–P
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
Customs and Border Protection,
Department of Homeland Security.
ACTION: General notice.
AGENCY:
SUMMARY: This notice advises the public
of the quarterly Internal Revenue
PO 00000
Frm 00069
Fmt 4703
Sfmt 4703
Service interest rates used to calculate
interest on overdue accounts
(underpayments) and refunds
(overpayments) of customs duties. For
the calendar quarter beginning July 1,
2008, 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. This notice is published for
the convenience of the importing public
and Customs and Border Protection
personnel.
DATES: Effective Date: July 1, 2008.
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 2008–27, the IRS
determined the rates of interest for the
calendar quarter beginning July 1, 2008,
and ending on September 30, 2008. 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 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 are
subject to change for the calendar
quarter beginning October 1, 2008, and
ending December 31, 2008.
For the convenience of the importing
public and Customs and Border
E:\FR\FM\03JYN1.SGM
03JYN1
38241
Federal Register / Vol. 73, No. 129 / Thursday, July 3, 2008 / Notices
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
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
100103
040104
070104
100104
040105
100105
070106
010108
040108
070108
Ending date
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Dated: June 30, 2008.
Jayson P. Ahern,
Acting Commissioner, U.S. Customs and
Border Protection.
[FR Doc. E8–15173 Filed 7–2–08; 8:45 am]
BILLING CODE 9111–14–P
[Docket No. FR–5186–N–27]
Federal Property Suitable as Facilities
To Assist the Homeless
Office of the Assistant
Secretary for Community Planning and
Development, HUD.
mstockstill on PROD1PC66 with NOTICES
AGENCY:
Notice.
SUMMARY: This Notice identifies
unutilized, underutilized, excess, and
surplus Federal property reviewed by
VerDate Aug<31>2005
16:46 Jul 02, 2008
Jkt 214001
PO 00000
Frm 00070
Fmt 4703
Sfmt 4703
Underpayments
(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
033104
063004
093004
033105
093005
063006
123107
033108
063008
093008
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
ACTION:
accounts and refunds of customs duties,
is published in summary format.
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
4
5
4
5
6
7
8
7
6
5
Overpayments
(percent)
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
4
5
4
5
6
7
8
7
6
5
Corporate Overpayments
(Eff. 1–1–99)
(percent)
..........................
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..........................
..........................
..........................
..........................
..........................
..........................
6
7
8
7
6
5
4
3
4
3
4
5
6
7
6
5
4
HUD for suitability for possible use to
assist the homeless.
DATES: Effective Date: July 3, 2008.
FOR FURTHER INFORMATION CONTACT:
Kathy Ezzell, Department of Housing
and Urban Development, 451 Seventh
Street, SW., Room 7262, Washington,
DC 20410; telephone (202) 708–1234;
TTY number for the hearing- and
speech-impaired (202) 708–2565, (these
telephone numbers are not toll-free), or
call the toll-free Title V information line
at 800–927–7588.
SUPPLEMENTARY INFORMATION: In
accordance with the December 12, 1988
court order in National Coalition for the
E:\FR\FM\03JYN1.SGM
03JYN1
]]>Agencies
[Federal Register Volume 73, Number 129 (Thursday, July 3, 2008)]
[Notices]
[Pages 38240-38241]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-15173]
-----------------------------------------------------------------------
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: 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 July 1, 2008, 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. This notice is published for the convenience of the importing
public and Customs and Border Protection personnel.
DATES: Effective Date: July 1, 2008.
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 2008-27, the IRS determined the rates of interest
for the calendar quarter beginning July 1, 2008, and ending on
September 30, 2008. 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 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 are subject to change for the
calendar quarter beginning October 1, 2008, and ending December 31,
2008.
For the convenience of the importing public and Customs and Border
[[Page 38241]]
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 Over-
Under- Over- payments (Eff.
Beginning date Ending date payments payments 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
----------------------------------------------------------------------------------------------------------------
Dated: June 30, 2008.
Jayson P. Ahern,
Acting Commissioner, U.S. Customs and Border Protection.
[FR Doc. E8-15173 Filed 7-2-08; 8:45 am]
BILLING CODE 9111-14-P
