Quarterly IRS Interest Rates Used In Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 53496-53497 [2016-19167]
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53496
Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices
DEPARTMENT OF HOMELAND
SECURITY
interest on overdue accounts
(underpayments) and refunds
(overpayments) of customs duties will
remain the same from the previous
quarter. For the calendar quarter
beginning July 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
and U.S. Customs and Border Protection
personnel.
DATES: Effective Date: July 1, 2016.
FOR FURTHER INFORMATION CONTACT: Kara
N. Welty, Revenue Division, Collection
and Refunds Branch, 6650 Telecom
Drive, Suite #100, Indianapolis, Indiana
46278; telephone (317) 614–4614.
SUPPLEMENTARY INFORMATION:
U.S. Customs and Border Protection
Background
in OMB’s receipt and processing of mail
sent through the U.S. Postal Service,
commenters are encouraged to submit
their comments to OMB via email to:
OIRA_Submission@omb.eop.gov.
Although commenters are encouraged to
send their comments via email,
commenters may also fax their
comments to: 202–395–7285.
Commenters may also mail them to:
Office of Management and Budget,
Office of Information and Regulatory
Affairs, New Executive Office Building,
Room 10102, Washington, DC 20503.
Summer King,
Statistician.
[FR Doc. 2016–19214 Filed 8–11–16; 8:45 am]
BILLING CODE 4162–20–P
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.
ACTION: General notice.
AGENCY:
This notice advises the public
that the quarterly Internal Revenue
Service interest rates used to calculate
SUMMARY:
mstockstill on DSK3G9T082PROD with NOTICES
Beginning date
18:42 Aug 11, 2016
Under-payments
(percent)
Ending 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
VerDate Sep<11>2014
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.
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
Jkt 238001
PO 00000
Frm 00102
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 2016–12, the IRS
determined the rates of interest for the
calendar quarter beginning July 1, 2016,
and ending on September 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 October 1,
2016, and ending December 31, 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.
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
Fmt 4703
Sfmt 4703
Corporate overpayments
(Eff. 1–1–99)
(percent)
Over-payments
(percent)
E:\FR\FM\12AUN1.SGM
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
12AUN1
Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices
Beginning date
040196
070196
040198
010199
040199
040100
040101
070101
010102
010103
100103
040104
070104
100104
040105
100105
070106
010108
040108
070108
100108
010109
040109
010111
040111
100111
040116
063096
033198
123198
033199
033100
033101
063001
123101
123102
093003
033104
063004
093004
033105
093005
063006
123107
033108
063008
093008
123108
033109
123110
033111
093011
033116
093016
Dated: August 8, 2016.
R. Gil Kerlikowske,
Commissioner.
BILLING CODE 9111–14–P
DEPARTMENT OF HOMELAND
SECURITY
U.S. Customs and Border Protection
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: General notice.
AGENCY:
mstockstill on DSK3G9T082PROD with NOTICES
18:42 Aug 11, 2016
Jkt 238001
The ACE Protest Test will
commence on August 29, 2016, and will
continue until concluded by a notice
published in the Federal Register.
Comments concerning this notice and
any aspect of the test may be submitted
at any time during the test to the
address set forth below.
Comments concerning this
notice and any aspect of the ACE Protest
Test may be submitted at any time
during the testing period via email to
Josephine Baiamonte, ACE Business
Office (ABO), Office of Trade at
josephine.baiamonte@cbp.dhs.gov. In
the subject line of your email, please
indicate, ‘‘Comment on ACE Protest
Test FRN.’’
ADDRESSES:
This document announces
U.S. Customs and Border Protection’s
(CBP’s) plan to conduct a National
Customs Automation Program (NCAP)
test to assess new functionalities related
to the electronic filing and processing of
protests and new notification
procedures for protests filed
electronically in the Automated
Commercial Environment (ACE). During
the test, participants will be able to
submit additional arguments and
supporting information electronically,
with their electronic protest in ACE. In
SUMMARY:
8
9
8
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8
9
8
7
6
5
4
5
4
5
6
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8
7
6
5
6
5
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4
3
4
DATES:
National Customs Automation
Program (NCAP) Test Concerning
Electronic Filing of Protests in the
Automated Commercial Environment
(ACE)
For
technical questions related to the
application or requests for an ACE
Portal Account, including ACE Protest
Filer Accounts, contact the ACE
Account Service Desk by calling 1–866–
530–4172, selecting option 1, then
FOR FURTHER INFORMATION CONTACT:
PO 00000
Frm 00103
Fmt 4703
Sfmt 4703
Corporate overpayments
(Eff. 1–1–99)
(percent)
Over-payments
(percent)
addition, participants will be able to
submit requests for further review,
requests for accelerated disposition,
requests to set aside denial of further
review, and requests to void denial of a
protest electronically in ACE. This
notice also announces the testing of
electronic protest status notifications
from CBP. The test will be known as the
ACE Protest Test.
[FR Doc. 2016–19167 Filed 8–11–16; 8:45 am]
VerDate Sep<11>2014
Under-payments
(percent)
Ending date
53497
7
8
7
7
8
9
8
7
6
5
4
5
4
5
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8
7
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2
3
option 2, or by emailing ACE.Support@
cbp.dhs.gov for assistance.
SUPPLEMENTARY INFORMATION:
I. The National Customs Automation
Program
The National Customs Automation
Program (NCAP) was established by
Subtitle B of Title VI—Customs
Modernization in the North American
Free Trade Agreement Implementation
Act (Customs Modernization Act) (Pub.
L. 103–182, 107 Stat. 2057, 2170,
December 8, 1993) (19 U.S.C. 1411).
Through NCAP, the thrust of customs
modernization was on trade compliance
and the development of the Automated
Commercial Environment (ACE), the
planned successor to the Automated
Commercial System (ACS). ACE is an
automated and electronic system for
commercial trade processing which is
intended to streamline business
processes, facilitate growth in trade,
ensure cargo security, and foster
participation in global commerce, while
ensuring compliance with U.S. laws and
regulations and reducing costs for U.S.
Customs and Border Protection (CBP)
and all of its communities of interest.
The ability to meet these objectives
depends on successfully modernizing
CBP’s business functions and the
information technology that supports
those functions. CBP’s modernization
efforts are accomplished through phased
E:\FR\FM\12AUN1.SGM
12AUN1
]]>Agencies
[Federal Register Volume 81, Number 156 (Friday, August 12, 2016)]
[Notices]
[Pages 53496-53497]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-19167]
=======================================================================
-----------------------------------------------------------------------
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 remain the same from the previous quarter. For the calendar
quarter beginning July 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: July 1, 2016.
FOR FURTHER INFORMATION CONTACT: Kara N. Welty, Revenue Division,
Collection and Refunds Branch, 6650 Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone (317) 614-4614.
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 2016-12, the IRS determined the rates of interest
for the calendar quarter beginning July 1, 2016, and ending on
September 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 October
1, 2016, and ending December 31, 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
Beginning date Ending date Under-payments Over-payments overpayments (Eff.
(percent) (percent) 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
[[Page 53497]]
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 123110 4 4 3
010111 033111 3 3 2
040111 093011 4 4 3
100111 033116 3 3 2
040116 093016 4 4 3
----------------------------------------------------------------------------------------------------------------
Dated: August 8, 2016.
R. Gil Kerlikowske,
Commissioner.
[FR Doc. 2016-19167 Filed 8-11-16; 8:45 am]
BILLING CODE 9111-14-P
