Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 19292-19293 [2018-09287]
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19292
Federal Register / Vol. 83, No. 85 / Wednesday, May 2, 2018 / Notices
BILLING CODE 4150–24–C
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.
ACTION: General notice.
AGENCY:
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 from the previous quarter. For
the calendar quarter beginning April 1,
2018, 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 for both corporations and noncorporations. This notice is published
for the convenience of the importing
daltland on DSKBBV9HB2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
22:14 May 01, 2018
Jkt 244001
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
first-month period of the previous
quarter.
PO 00000
Frm 00082
Fmt 4703
Sfmt 4703
In Revenue Ruling 2018–07, the IRS
determined the rates of interest for the
calendar quarter beginning April 1,
2018, and ending on June 30, 2018. 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 both corporations and
non-corporations. 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 used
to calculate interest on overdue
accounts (underpayments) and refunds
(overpayments) of customs duties are
the same from the previous quarter.
These interest rates are subject to
change for the calendar quarter
beginning July 1, 2018, and ending
September 30, 2018.
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 July of 1974 to date, to
calculate interest on overdue accounts
and refunds of customs duties, is
published in summary format.
E:\FR\FM\02MYN1.SGM
02MYN1
EN02MY18.004</GPH>
public and U.S. Customs and Border
Protection personnel.
DATES: The rates announced in this
notice are applicable as of April 1, 2018.
FOR FURTHER INFORMATION CONTACT:
Bruce W. Ingalls, Revenue Division,
Collection and Refunds Branch, 6650
Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone
(317) 298–1107.
SUPPLEMENTARY INFORMATION:
[FR Doc. 2018–09361 Filed 4–30–18; 4:15 pm]
19293
Federal Register / Vol. 83, No. 85 / Wednesday, May 2, 2018 / Notices
Beginning date
070174
070175
020176
020178
020180
020182
010183
070183
010185
070185
010186
070186
010187
100187
010188
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Dated: April 23, 2018.
Samuel D. Grable,
Assistant Commissioner and Chief Financial
Officer, Office of Finance.
daltland on DSKBBV9HB2PROD with NOTICES
Ending date
[FR Doc. 2018–09287 Filed 5–1–18; 8:45 am]
BILLING CODE 9111–14–P
063075
013176
013178
013180
013182
123182
063083
123184
063085
123185
063086
123186
093087
123187
033188
093088
033189
093089
033191
123191
033192
093092
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033195
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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
033118
063018
DEPARTMENT OF HOMELAND
SECURITY
Notice of Issuance of Final
Determination Concerning
Gyrocompasses
U.S. Customs and Border
Protection, Department of Homeland
Security.
22:14 May 01, 2018
Jkt 244001
6
9
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6
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ACTION:
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
Corporate
overpayments
(eff. 1–1–99)
(percent)
Over
payments
(percent)
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Notice of final determination.
This document provides
notice that U.S. Customs and Border
Protection (‘‘CBP’’) has issued a final
determination concerning the country of
origin of certain gyrocompasses. Based
upon the facts presented, CBP has
concluded that the country of origin of
the gyrocompasses is the United States
for purposes of U.S. Government
procurement.
SUMMARY:
U.S. Customs and Border Protection
AGENCY:
VerDate Sep<11>2014
Under
payments
(percent)
E:\FR\FM\02MYN1.SGM
02MYN1
]]>Agencies
[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Pages 19292-19293]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09287]
=======================================================================
-----------------------------------------------------------------------
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 from the previous quarter. For the calendar quarter
beginning April 1, 2018, 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 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: The rates announced in this notice are applicable as of April 1,
2018.
FOR FURTHER INFORMATION CONTACT: Bruce W. Ingalls, Revenue Division,
Collection and Refunds Branch, 6650 Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone (317) 298-1107.
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 2018-07, the IRS determined the rates of interest
for the calendar quarter beginning April 1, 2018, and ending on June
30, 2018. 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 both corporations and non-
corporations. 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 used to
calculate interest on overdue accounts (underpayments) and refunds
(overpayments) of customs duties are the same from the previous
quarter. These interest rates are subject to change for the calendar
quarter beginning July 1, 2018, and ending September 30, 2018.
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 July of 1974 to date, to calculate
interest on overdue accounts and refunds of customs duties, is
published in summary format.
[[Page 19293]]
----------------------------------------------------------------------------------------------------------------
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.......................................... 123110 4 4 3
010111.......................................... 033111 3 3 2
040111.......................................... 093011 4 4 3
100111.......................................... 033116 3 3 2
040116.......................................... 033118 4 4 3
040118.......................................... 063018 5 5 4
----------------------------------------------------------------------------------------------------------------
Dated: April 23, 2018.
Samuel D. Grable,
Assistant Commissioner and Chief Financial Officer, Office of Finance.
[FR Doc. 2018-09287 Filed 5-1-18; 8:45 am]
BILLING CODE 9111-14-P
