Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 29879-29880 [2016-11376]
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29879
Federal Register / Vol. 81, No. 93 / Friday, May 13, 2016 / Notices
and U.S. Customs and Border Protection
personnel.
DATES: Effective Date: April 1, 2016.
FOR FURTHER INFORMATION CONTACT:
Michael P. Dean, Revenue Division,
Collection and Refunds Branch, 6650
Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone
(317) 614–4882.
SUPPLEMENTARY INFORMATION:
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
U.S. Customs and Border
Protection, Department of Homeland
Security.
AGENCY:
ACTION:
General notice.
This notice advises the public
that the quarterly Internal Revenue
Service interest rates used to calculate
interest on overdue accounts
(underpayments) and refunds
(overpayments) of customs duties will
increase 1 percent from the previous
quarter. For the calendar quarter
beginning April 1, 2016, 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 for
both corporations and non-corporations.
This notice is published for the
convenience of the importing public
SUMMARY:
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
provides different interest rates
applicable to overpayments: one for
corporations and one for noncorporations.
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
mstockstill on DSK3G9T082PROD with 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
VerDate Sep<11>2014
18:05 May 12, 2016
Underpayments
(percent)
Ending date
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Jkt 238001
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
PO 00000
first-month period of the previous
quarter.
In Revenue Ruling 2016–06, the IRS
determined the rates of interest for the
calendar quarter beginning April 1,
2016, and ending on June 30, 2016. 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 both corporations and
non-corporations. 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 July 1, 2016,
and ending September 30, 2016.
For the convenience of the importing
public and U.S. 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.
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Frm 00048
Fmt 4703
Sfmt 4703
E:\FR\FM\13MYN1.SGM
Corporate
overpayments
(eff. 1–1–99)
(percent)
Overpayments
(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
13MYN1
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
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6
7
8
7
6
5
29880
Federal Register / Vol. 81, No. 93 / Friday, May 13, 2016 / Notices
Beginning date
010103
100103
040104
070104
100104
040105
100105
070106
010108
040108
070108
100108
010109
040109
010111
040111
100111
040116
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Dated: May 10, 2016.
R. Gil Kerlikowske,
Commissioner.
BILLING CODE 9111–14–P
DEPARTMENT OF HOMELAND
SECURITY
U.S. Customs and Border Protection
[1651–0061]
Agency Information Collection
Activities: Application To Establish a
Centralized Examination Station
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: 30-Day notice and request for
comments; Extension of an existing
collection of information.
AGENCY:
U.S. Customs and Border
Protection (CBP) of the Department of
Homeland Security will be submitting
the following information collection
request to the Office of Management and
Budget (OMB) for review and approval
in accordance with the Paperwork
Reduction Act: Application to Establish
a Centralized Examination Station. 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 or to the information collected.
This document is published to obtain
comments from the public and affected
agencies.
DATES: Written comments should be
received on or before June 13, 2016 to
be assured of consideration.
mstockstill on DSK3G9T082PROD with NOTICES
SUMMARY:
18:05 May 12, 2016
093003
033104
063004
093004
033105
093005
063006
123107
033108
063008
093008
123108
033109
123110
033111
093011
033116
063016
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Interested persons are
invited to submit written comments on
this 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) 395–5806.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information
should be directed to Tracey Denning,
U.S. Customs and Border Protection,
Regulations and Rulings, Office of
Trade, 90 K Street, NE., 10th Floor,
Washington, DC 20229–1177, at 202–
325–0265.
SUPPLEMENTARY INFORMATION: This
proposed information collection was
previously published in the Federal
Register (81 FR 7365) on February 11,
2016, 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. CBP invites the
general public and other Federal
agencies to comment on proposed and/
or continuing information collections
pursuant to the Paperwork Reduction
Act of 1995 (Pub. L. 104–13; 44 U.S.C.
3507). The comments should address:
(a) whether the collection of information
is necessary for the proper performance
of the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’s estimates of the burden of the
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; (d)
ways to minimize the burden, including
the use of automated collection
ADDRESSES:
[FR Doc. 2016–11376 Filed 5–12–16; 8:45 am]
VerDate Sep<11>2014
Underpayments
(percent)
Ending date
Jkt 238001
PO 00000
Frm 00049
Fmt 4703
Sfmt 4703
Corporate
overpayments
(eff. 1–1–99)
(percent)
Overpayments
(percent)
5
4
5
4
5
6
7
8
7
6
5
6
5
4
3
4
3
4
5
4
5
4
5
6
7
8
7
6
5
6
5
4
3
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3
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5
4
3
2
3
2
3
techniques or the use of other forms of
information technology; and (e) the
annual costs to respondents or record
keepers from the collection of
information (total capital/startup costs
and operations and maintenance costs).
The comments that are submitted will
be summarized and included in the CBP
request for OMB approval. All
comments will become a matter of
public record. In this document, CBP is
soliciting comments concerning the
following information collection:
Title: Application to Establish a
Centralized Examination Station.
OMB Number: 1651–0061.
Abstract: A Customs and Border
Protection (CBP) port director decides
when his or her port needs one or more
Centralized Examination Stations (CES).
A CES is a facility where imported
merchandise is made available to CBP
officers for physical examination. If it is
decided that a CES is needed, the port
director solicits applications to operate
a CES. The information contained in the
application will be used to determine
the suitability of the applicant’s facility;
the fairness of fee structure; and the
knowledge of cargo handling operations
and of CBP procedures. The names of all
corporate officers and all employees
who will come in contact with
uncleared cargo will also be provided so
that CBP may perform background
investigations. The CES application is
provided for by 19 CFR 118.11 and is
authorized by 19 U.S.C. 1499, Tariff Act
of 1930.
Current Actions: CBP proposes to
extend the expiration date of this
information collection with no change
to the burden hours or to the
information collected.
Type of Review: Extension (without
change).
E:\FR\FM\13MYN1.SGM
13MYN1
]]>Agencies
[Federal Register Volume 81, Number 93 (Friday, May 13, 2016)]
[Notices]
[Pages 29879-29880]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-11376]
[[Page 29879]]
=======================================================================
-----------------------------------------------------------------------
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: U.S. Customs and Border Protection, Department of Homeland
Security.
ACTION: General notice.
-----------------------------------------------------------------------
SUMMARY: This notice advises the public that the quarterly Internal
Revenue Service interest rates used to calculate interest on overdue
accounts (underpayments) and refunds (overpayments) of customs duties
will increase 1 percent from the previous quarter. For the calendar
quarter beginning April 1, 2016, 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 for both
corporations and non-corporations. This notice is published for the
convenience of the importing public and U.S. Customs and Border
Protection personnel.
DATES: Effective Date: April 1, 2016.
FOR FURTHER INFORMATION CONTACT: Michael P. Dean, Revenue Division,
Collection and Refunds Branch, 6650 Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone (317) 614-4882.
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 provides 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 2016-06, the IRS determined the rates of interest
for the calendar quarter beginning April 1, 2016, and ending on June
30, 2016. 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 both corporations and non-
corporations. 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 July 1, 2016, and ending
September 30, 2016.
For the convenience of the importing public and U.S. 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
[[Page 29880]]
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................................ 123110.................. 4 4 3
010111................................ 033111.................. 3 3 2
040111................................ 093011.................. 4 4 3
100111................................ 033116.................. 3 3 2
040116................................ 063016.................. 4 4 3
----------------------------------------------------------------------------------------------------------------
Dated: May 10, 2016.
R. Gil Kerlikowske,
Commissioner.
[FR Doc. 2016-11376 Filed 5-12-16; 8:45 am]
BILLING CODE 9111-14-P
