Prompt Payment Interest Rate; Contract Disputes Act, 57809 [2019-23483]

Download as PDF Federal Register / Vol. 84, No. 208 / Monday, October 28, 2019 / Notices Fiscal Service applicable for the period beginning July 1, 2019, and ending on December 31, 2019, is 25⁄8 per centum per annum. Prompt Payment Interest Rate; Contract Disputes Act David A. Lebryk, Fiscal Assistant Secretary. DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service, Treasury. ACTION: Notice of prompt payment interest rate; Contract Disputes Act. AGENCY: khammond on DSKJM1Z7X2PROD with NOTICES FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, (202) 874–6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief Counsel, (202) 874–7036. SUPPLEMENTARY INFORMATION: An agency that has acquired property or service from a business concern and has failed to pay for the complete delivery of property or service by the required payment date shall pay the business concern an interest penalty. 31 U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 95–563, 92 Stat. 2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at the rate established by the Secretary of the Treasury. The Secretary of the Treasury has the authority to specify the rate by which the interest shall be computed for interest payments under section 12 of the Contract Disputes Act of 1978 and under the Prompt Payment Act. Under the Prompt Payment Act, if an interest penalty is owed to a business concern, the penalty shall be paid regardless of whether the business concern requested payment of such penalty. 31 U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated with the interest rate, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). ‘‘The interest penalty shall be paid for the period beginning on the day after the required payment date and ending on the date on which payment is made.’’ 31 U.S.C. 3902(b). Therefore, notice is given that the Secretary of the Treasury has determined that the rate of interest Jkt 250001 [FR Doc. 2019–23483 Filed 10–25–19; 8:45 am] Dated: October 17, 2019. John Lipold, Branch Chief, IRS Office of National Public Liaison, IRSAC Designated Federal Official. BILLING CODE 4810–AS–P [FR Doc. 2019–23409 Filed 10–25–19; 8:45 am] DEPARTMENT OF THE TREASURY For the period beginning July 1, 2019, and ending on December 31, 2019, the prompt payment interest rate is 25⁄8 per centum per annum. DATES: This rate becomes effective July 1, 2019, to December 31, 2019. ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, Bureau of the Fiscal Service, 401 14th Street SW, Room 306F, Washington, DC 20227. Comments or inquiries may also be emailed to PromptPayment@ fiscal.treasury.gov. 16:58 Oct 25, 2019 Avenue NW, Washington, DC 20224 or send an email to PublicLiaison@irs.gov. BILLING CODE 4830–01–P SUMMARY: VerDate Sep<11>2014 57809 DEPARTMENT OF THE TREASURY Internal Revenue Service Internal Revenue Service Advisory Council; Meeting Internal Revenue Service, Department of the Treasury. ACTION: Notice of meeting. AGENCY: The Internal Revenue Service Advisory Council (IRSAC) will hold a public meeting on Wednesday, November 20, 2019. FOR FURTHER INFORMATION CONTACT: Mrs. Anna Brown, Office of National Public Liaison, at 202–317–6851 or send an email to PublicLiaison@irs.gov. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988), that a public meeting of the IRSAC will be held on Wednesday, November 20, 2019, from 9:00 a.m. to 1:00 p.m. at the Internal Revenue Service, 1111 Constitution Ave. NW, 7th Floor Auditorium, Washington, DC 20224. Issues to be discussed include, but are not limited to: Accelerating the use of e-Signatures in Federal Tax Administration; Establishing Safe Harbors by Relying on Certain Conclusions of Independent Parties; Broadening and Improving a SelfCorrection Program for Tax-Exempt Bonds; Improving Customer Experience and Service Delivery; Form W–4 2020 Version; Improving the Marketing, Promotion and Participation of VITA/ TCE Programs and Other Services; The Effectiveness of Guidance and Outreach for 199A, Qualified Business Income; The Sharing Economy and Impact on the Tax Gap; The Need for Guidance for ‘‘On-Demand Payroll’’; and Improving the Accuracy of Form 990 Filings. Lastminute agenda changes may preclude advanced notice. Due to building security requirements, confirm your attendance by November 14 to Tina Briscoe at 202–317–6535. Attendees are encouraged to arrive at least 30 minutes before the meeting begins. Should you wish the IRSAC to consider a written statement, please write to Internal Revenue Service, Attn: Anna Brown, Office of National Public Liaison, CL: NPL, Room 7559, 1111 Constitution SUMMARY: PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 Agency Information Collection Activities; Proposed Collection; Comment Request; Annual Performance Report and Certification for Section 1603: Payments for Specified Renewable Energy Property in Lieu of Tax Credits Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on the proposed information collection listed below, in accordance with the Paperwork Reduction Act of 1995. DATES: Written comments must be received on or before December 27, 2019. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Sustanchia Gladden by emailing Sustanchia.Gladden@ treasury.gov, calling (202) 622–8951, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: Title: Annual Performance Report and Certification for Section 1603: Payments for Specified Renewable Energy Property in Lieu of Tax Credits. OMB Control Number: 1505–0221. Type of Review: Extension without change of a currently approved collection. Description: Authorized under the American Recovery and Reinvestment Act (ARRA), of 2009 (Pub. L. 111–5), the Department of the Treasury is implementing several provisions of the Act, more specifically Division B-Tax, Unemployment, Health, State Fiscal Relief, and Other Provisions. Among these components is a program which SUMMARY: E:\FR\FM\28OCN1.SGM 28OCN1

Agencies

[Federal Register Volume 84, Number 208 (Monday, October 28, 2019)]
[Notices]
[Page 57809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23483]



[[Page 57809]]

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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice of prompt payment interest rate; Contract Disputes Act.

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SUMMARY: For the period beginning July 1, 2019, and ending on December 
31, 2019, the prompt payment interest rate is 2\5/8\ per centum per 
annum.

DATES: This rate becomes effective July 1, 2019, to December 31, 2019.

ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, 
Bureau of the Fiscal Service, 401 14th Street SW, Room 306F, 
Washington, DC 20227. Comments or inquiries may also be emailed to 
[email protected].

FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, 
(202) 874-6430; or Thomas Kearns, Attorney-Advisor, Office of the Chief 
Counsel, (202) 874-7036.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed to pay for the complete 
delivery of property or service by the required payment date shall pay 
the business concern an interest penalty. 31 U.S.C. 3902(a). The 
Contract Disputes Act of 1978, Sec. 12, Public Law 95-563, 92 Stat. 
2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the 
calculation of interest due on claims at the rate established by the 
Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of such penalty. 31 
U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated 
with the interest rate, which is in effect at the time the agency 
accrues the obligation to pay a late payment interest penalty. 31 
U.S.C. 3902(a). ``The interest penalty shall be paid for the period 
beginning on the day after the required payment date and ending on the 
date on which payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning July 1, 2019, and ending on December 31, 2019, is 2\5/8\ per 
centum per annum.

David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2019-23483 Filed 10-25-19; 8:45 am]
BILLING CODE 4810-AS-P