Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 54130-54131 [2018-23469]

Download as PDF 54130 Federal Register / Vol. 83, No. 208 / Friday, October 26, 2018 / Notices The rates announced in this notice are applicable as of October 1, 2018. DATES: DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection FOR FURTHER INFORMATION CONTACT: Bruce Ingalls, Revenue Division, Collection Refunds & Analysis Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 298–1107. SUPPLEMENTARY INFORMATION: [ADM–9–03 OT:RR:RD:TC H300753 MS] 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: Background 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 October 1, 2018, the interest rates for overpayments will be 4 percent for corporations and 5 percent for noncorporations, 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. 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. SUMMARY: khammond on DSK30JT082PROD 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 Ending date ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. VerDate Sep<11>2014 18:32 Oct 25, 2018 Jkt 247001 PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 In Revenue Ruling 2018–25, the IRS determined the rates of interest for the calendar quarter beginning October 1, 2018, and ending on December 31, 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 January 1, 2019, and ending March 31, 2019. 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. Under payments (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 E:\FR\FM\26OCN1.SGM 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 26OCN1 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 Corporate overpayments (Eff. 1–1–99) (percent) 6 7 8 54131 Federal Register / Vol. 83, No. 208 / Friday, October 26, 2018 / Notices Beginning date 040101 070101 010102 010103 100103 040104 070104 100104 040105 100105 070106 010108 040108 070108 100108 010109 040109 010111 040111 100111 040116 040118 ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. Dated: October 23, 2018. Samuel D. Grable, Assistant Commissioner and Chief Financial Officer, Office of Finance. [FR Doc. 2018–23469 Filed 10–25–18; 8:45 am] BILLING CODE 9111–14–P DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Internal Agency Docket No. FEMA–4393– DR; Docket ID FEMA–2018–0001] North Carolina; Amendment No. 4 to Notice of a Major Disaster Declaration Federal Emergency Management Agency, DHS. ACTION: Notice. AGENCY: (The following Catalog of Federal Domestic Assistance Numbers (CFDA) are to be used VerDate Sep<11>2014 18:32 Oct 25, 2018 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.) Brock Long, Administrator, Federal Emergency Management Agency. BILLING CODE 9111–11–P This notice amends the notice of a major disaster declaration for the State of North Carolina (FEMA–4393– DR), dated September 14, 2018, and related determinations. DATES: This amendment was issued October 10, 2018. FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and Recovery, Federal Emergency Management Agency, 500 C Street SW, Washington, DC 20472, (202) 646–2833. SUPPLEMENTARY INFORMATION: Notice is hereby given that the incident period for this disaster is closed effective September 29, 2018. Jkt 247001 DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Internal Agency Docket No. FEMA–3401– EM; Docket ID FEMA–2018–0001] North Carolina; Amendment No. 1 to Notice of an Emergency Declaration Federal Emergency Management Agency, DHS. ACTION: Notice. AGENCY: PO 00000 Frm 00052 Fmt 4703 Sfmt 4703 Overpayments (percent) Corporate overpayments (Eff. 1–1–99) (percent) 8 7 6 5 4 5 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 7 6 5 4 3 4 3 4 5 6 7 6 5 4 5 4 3 2 3 2 3 4 8 7 6 5 4 5 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 EM), dated September 10, 2018, and related determinations. This amendment was issued October 10, 2018. DATES: FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and Recovery, Federal Emergency Management Agency, 500 C Street SW, Washington, DC 20472, (202) 646–2833. Notice is hereby given that the incident period for this emergency is closed effective September 29, 2018. SUPPLEMENTARY INFORMATION: (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.) Brock Long, Administrator, Federal Emergency Management Agency. This notice amends the notice of an emergency declaration for the State of North Carolina (FEMA–3401– SUMMARY: Under payments (percent) 063001 123101 123102 093003 033104 063004 093004 033105 093005 063006 123107 033108 063008 093008 123108 033109 123110 033111 093011 033116 033118 123118 [FR Doc. 2018–23378 Filed 10–25–18; 8:45 am] SUMMARY: khammond on DSK30JT082PROD with NOTICES Ending date [FR Doc. 2018–23381 Filed 10–25–18; 8:45 am] BILLING CODE 9111–11–P E:\FR\FM\26OCN1.SGM 26OCN1

Agencies

[Federal Register Volume 83, Number 208 (Friday, October 26, 2018)]
[Notices]
[Pages 54130-54131]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23469]



[[Page 54130]]

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DEPARTMENT OF HOMELAND SECURITY

U.S. Customs and Border Protection

[ADM-9-03 OT:RR:RD:TC H300753 MS]


 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 October 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 October 
1, 2018.

FOR FURTHER INFORMATION CONTACT: Bruce Ingalls, Revenue Division, 
Collection Refunds & Analysis 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 2018-25, the IRS determined the rates of interest 
for the calendar quarter beginning October 1, 2018, and ending on 
December 31, 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 January 1, 2019, and ending March 31, 2019.
    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.

----------------------------------------------------------------------------------------------------------------
                                                                                                     Corporate
                                                                  Under payments   Overpayments    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

[[Page 54131]]

 
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..........................................          123118               5               5               4
----------------------------------------------------------------------------------------------------------------


    Dated: October 23, 2018.
Samuel D. Grable,
Assistant Commissioner and Chief Financial Officer, Office of Finance.
[FR Doc. 2018-23469 Filed 10-25-18; 8:45 am]
 BILLING CODE 9111-14-P