Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 419-420 [E9-31353]

Download as PDF Federal Register / Vol. 75, No. 2 / Tuesday, January 5, 2010 / Notices DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Internal Agency Docket No. FEMA–1868– DR; Docket ID FEMA–2008–0018] Kansas; Major Disaster and Related Determinations AGENCY: Federal Emergency Management Agency, DHS. ACTION: Notice. srobinson on DSKHWCL6B1PROD with PROPOSALS SUMMARY: This is a notice of the Presidential declaration of a major disaster for the State of Kansas (FEMA– 1868–DR), dated December 23, 2009, and related determinations. DATES: Effective Date: December 23, 2009. FOR FURTHER INFORMATION CONTACT: Peggy Miller, Disaster Assistance Directorate, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472, (202) 646–3886. SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter dated December 23, 2009, the President issued a major disaster declaration under the authority of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the ‘‘Stafford Act’’), as follows: I have determined that the damage in certain areas of the State of Kansas resulting from a severe winter storm during the period of November 14–16, 2009, is of sufficient severity and magnitude to warrant a major disaster declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the ‘‘Stafford Act’’). Therefore, I declare that such a major disaster exists in the State of Kansas. In order to provide Federal assistance, you are hereby authorized to allocate from funds available for these purposes such amounts as you find necessary for Federal disaster assistance and administrative expenses. You are authorized to provide Public Assistance in the designated areas and Hazard Mitigation throughout the State. Consistent with the requirement that Federal assistance is supplemental, any Federal funds provided under the Stafford Act for Public Assistance and Hazard Mitigation will be limited to 75 percent of the total eligible costs. Further, you are authorized to make changes to this declaration for the approved assistance to the extent allowable under the Stafford Act. The Federal Emergency Management Agency (FEMA) hereby gives notice that pursuant to the authority vested in the VerDate Nov<24>2008 16:41 Jan 04, 2010 Jkt 220001 Administrator, under Executive Order 12148, as amended, Michael R. Scott, of FEMA is appointed to act as the Federal Coordinating Officer for this major disaster. The following areas of the State of Kansas have been designated as adversely affected by this major disaster: Marshall, Republic, and Washington Counties for Public Assistance. All counties within the State of Kansas are eligible to apply for assistance under the Hazard Mitigation Grant Program. (The following Catalog of Federal Domestic Assistance Numbers (CFDA) are to be used for reporting and drawing funds: 97.030, Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis Counseling; 97.033, Disaster Legal Services; 97.034, Disaster Unemployment Assistance (DUA); 97.046, Fire Management Assistance Grant; 97.048, Disaster Housing Assistance to Individuals and Households in Presidentially Declared Disaster Areas; 97.049, Presidentially Declared Disaster Assistance— Disaster Housing Operations for Individuals and Households; 97.050, Presidentially Declared Disaster Assistance to Individuals and Households—Other Needs; 97.036, Disaster Grants—Public Assistance (Presidentially Declared Disasters); 97.039, Hazard Mitigation Grant.) W. Craig Fugate, Administrator, Federal Emergency Management Agency. [FR Doc. E9–31229 Filed 1–4–10; 8:45 am] BILLING CODE 9111–23–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 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, 2010, the interest rates for overpayments will be 3 percent for corporations and 4 percent for noncorporations, and the interest rate for underpayments will be 4 percent. This notice is published for the convenience PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 419 of the importing public and Customs and Border Protection personnel. DATES: Effective Date: January 1, 2010. 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 2009–37, the IRS determined the rates of interest for the calendar quarter beginning January 1, 2010, and ending on March 31, 2010. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (1%) plus three percentage points (3%) for a total of four percent (4%). For corporate overpayments, the rate is the Federal short-term rate (1%) plus two percentage points (2%) for a total of three percent (3%). For overpayments made by non-corporations, the rate is the Federal short-term rate (1%) plus three percentage points (3%) for a total of four percent (4%). These interest rates are subject to change for the calendar quarter beginning April 1, 2010, and ending June 30, 2010. 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. E:\FR\FM\05JAN1.SGM 05JAN1 420 Federal Register / Vol. 75, No. 2 / Tuesday, January 5, 2010 / Notices 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 100108 010109 040109 ............................................................................................. ............................................................................................. ............................................................................................. ............................................................................................. ............................................................................................. 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Dated: December 29, 2009. Jayson P. Ahern, Acting Commissioner, U.S. Customs and Border Protection. [FR Doc. E9–31353 Filed 1–4–10; 8:45 am] 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 123108 033109 033110 DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection [Docket No. USCBP–2009–0036] BILLING CODE 9111–14–P srobinson on DSKHWCL6B1PROD with PROPOSALS Under-payments (percent) Ending date Receipt of Domestic Interested Party Petition Concerning the Tariff Classification of Wickless Wax Objects AGENCY: Customs and Border Protection, Department of Homeland Security. ACTION: Notice of receipt of domestic interested party petition; solicitation of comments. VerDate Nov<24>2008 16:41 Jan 04, 2010 Jkt 220001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 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 4 5 4 5 6 7 8 7 6 5 6 5 4 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 6 5 4 Corporate overpayments (Eff. 1–1–99) (percent) ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ 6 7 8 7 6 5 4 3 4 3 4 5 6 7 6 5 4 5 4 3 SUMMARY: Customs and Border Protection (CBP) has received a petition submitted on behalf of a domestic interested party requesting the reclassification under the Harmonized Tariff Schedule of the United States (HTSUS) of certain wickless wax objects from China. Currently, these objects are classified as ‘‘Molded or carved articles of wax’’ under subheading 9602.00.40, HTSUS. The petitioner contends that the proper classification for these wickless wax objects is in subheading 3406.00.00, HTSUS, as candles. While the 2009 duty rates of both these subheadings is free, petitioner claims E:\FR\FM\05JAN1.SGM 05JAN1

Agencies

[Federal Register Volume 75, Number 2 (Tuesday, January 5, 2010)]
[Notices]
[Pages 419-420]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-31353]


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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 January 1, 2010, the interest rates 
for overpayments will be 3 percent for corporations and 4 percent for 
non-corporations, and the interest rate for underpayments will be 4 
percent. This notice is published for the convenience of the importing 
public and Customs and Border Protection personnel.

DATES: Effective Date: January 1, 2010.

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 2009-37, the IRS determined the rates of interest 
for the calendar quarter beginning January 1, 2010, and ending on March 
31, 2010. The interest rate paid to the Treasury for underpayments will 
be the Federal short-term rate (1%) plus three percentage points (3%) 
for a total of four percent (4%). For corporate overpayments, the rate 
is the Federal short-term rate (1%) plus two percentage points (2%) for 
a total of three percent (3%). For overpayments made by non-
corporations, the rate is the Federal short-term rate (1%) plus three 
percentage points (3%) for a total of four percent (4%). These interest 
rates are subject to change for the calendar quarter beginning April 1, 
2010, and ending June 30, 2010.
    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.

[[Page 420]]



----------------------------------------------------------------------------------------------------------------
                                                                                                    Corporate
                                                             Under-payments     Over-payments     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
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..................................            033110                 4                 4                 3
----------------------------------------------------------------------------------------------------------------


    Dated: December 29, 2009.
Jayson P. Ahern,
Acting Commissioner, U.S. Customs and Border Protection.
[FR Doc. E9-31353 Filed 1-4-10; 8:45 am]
BILLING CODE 9111-14-P
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