Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 19002-19004 [2020-06974]

Download as PDF 19002 Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices DEPARTMENT OF HOMELAND SECURITY Coast Guard [Docket No. USCG–2010–0164] National Boating Safety Advisory Council; April 2020 Teleconference U.S. Coast Guard, Department of Homeland Security. ACTION: Notice of Federal Advisory Committee teleconference meeting. AGENCY: The National Boating Safety Advisory Council (Council) and its working groups will meet via teleconference to discuss matters relating to recreational boating safety. These meetings will be open to the public. SUMMARY: Meeting: The National Boating Safety Advisory Council and its working groups will meet by teleconference on Wednesday, April 22, 2020, from 1:00 p.m. until 5:00 p.m. (Eastern Daylight Time). The teleconference may adjourn early if the Council has completed its business. Comments and supporting documentation: To ensure your comments are received by Council members before the teleconference, submit your written comments no later than April 15, 2020. ADDRESSES: To join the teleconference or to request special accommodations, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section no later than 1 p.m. on April 15, 2020, to obtain the needed information. The number of teleconference lines is limited and will be available on a firstcome, first-served basis. Instructions: You are free to submit comments at any time, including orally at the teleconference as time permits, but if you want Council members to review your comment before the teleconference, please submit your comments no later than April 15, 2020. We are particularly interested in comments on the issues in the ‘‘Agenda’’ section below. We encourage you to submit comments through the Federal eRulemaking Portal at https:// www.regulations.gov. If your material cannot be submitted using https:// www.regulations.gov, call or email the individual in the FOR FURTHER INFORMATION CONTACT section of this document for alternate instructions. You must include the docket number [USCG–2010–0164]. Comments received will be posted without alteration at http://www.regulations.gov, including any personal information provided. For more about privacy and submissions in jbell on DSKJLSW7X2PROD with NOTICES DATES: VerDate Sep<11>2014 17:45 Apr 02, 2020 Jkt 250001 response to this document, see DHS’s eRulemaking System of Records notice (85 FR 14226, March 11, 2020). If you encounter technical difficulties with comment submission, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section of this notice. Docket Search: Documents mentioned in this notice as being available in the docket, and all public comments, will be in our online docket at https:// www.regulations.gov and can be viewed by following that website’s instructions. Additionally, if you go to the online docket and sign-up for email alerts, you will be notified when comments are posted. Mr. Jeff Decker, Alternate Designated Federal Officer of the National Boating Safety Advisory Council, 2703 Martin Luther King Jr. Ave SE, Stop 7509, Washington, DC 20593–7509, telephone 202–372–1507 or NBSAC@uscg.mil. SUPPLEMENTARY INFORMATION: Notice of this meeting is given pursuant to the Federal Advisory Committee Act, (5 U.S.C., Appendix). Congress established the National Boating Safety Advisory Council in the Federal Boat Safety Act of 1971 (Public Law 92–75). The National Boating Safety Advisory Council provides advice and recommendations to the Department of Homeland Security on matters relating to recreational vessels and associated equipment and on other safety matters related to recreational vessels. FOR FURTHER INFORMATION CONTACT: Agenda The agenda for the National Boating Safety Advisory Council meeting is as follows: Wednesday, April 22, 2020 (1) Call to Order. (2) Opening remarks. (3) Receipt and discussion of the following reports from the Office of Auxiliary and Boating Safety: (a) Update on the U.S. Coast Guard’s implementation of National Boating Safety Advisory Council Recommendations and Recreational Boating Safety Program Report. (b) Alternate Designated Federal Officer’s report concerning Council administrative and logistical matters including updates on key elements affecting the Council. (c) 2019 National Recreational Boating Safety Survey Results. (d) BSX–22 update on the National Recreational Boating Grant Program. (e) Update on the current USCG RBS Strategic Plan and discussion of the 2022–2026 Strategic Plan. PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 (4) National Boating Safety Advisory Council discussion on initiating a boating safety program on the use and benefits of cut-off switches for recreational vessels. (5) National Boating Safety Advisory Council discussion on exemption from carriage of throwable personal flotation devices requirement for rafts over 16 feet in length. (6) National Boating Safety Advisory Council discussion on Associated Equipment; specifically related to protective gear for Personal Watercraft operators and passengers and in general when applied to all boats. (7) Update of the National Association of State Boating Law Administrator’s Engineering, Research and Analysis committee’s work over the past year and next steps. (8) Presentation and discussion on the Sport Fish Restoration and Boating Safety Trust Fund. (9) Closing remarks/plans for next meeting. (10) Adjournment of meeting. A copy of all meeting documentation will be available at https:// homeport.uscg.mil/missions/ports-andwaterways/safety-advisory-committees/ nbsac no later than April 15, 2020. Alternatively, you may contact Mr. Jeff Decker as noted in the FOR FURTHER INFORMATION CONTACT section above. During the April 22, 2020 teleconference, a public comment period will be held from approximately 3:00 p.m.–3:30 p.m. Public comments will be limited to two minutes per speaker. Please note that the public comment periods will end following the last call for comments. Please contact the individual listed in the FOR FURTHER INFORMATION CONTACT section, to register as a speaker. Dated: March 30, 2020. David Barata, Captain, U.S. Coast Guard, Director of Inspections and Compliance. [FR Doc. 2020–06964 Filed 4–2–20; 8:45 am] BILLING CODE 9110–04–P 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: E:\FR\FM\03APN1.SGM 03APN1 19003 Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices 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 April 1, 2020, 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. SUMMARY: The rates announced in this notice are applicable as of April 1, 2020. DATES: 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 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. In Revenue Ruling 2020–7, the IRS determined the rates of interest for the calendar quarter beginning April 1, 2020, and ending on June 30, 2020. The interest rate paid to the Treasury for underpayments will be the Federal jbell on DSKJLSW7X2PROD 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 010103 100103 040104 Ending date ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... VerDate Sep<11>2014 17:45 Apr 02, 2020 Jkt 250001 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 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 remaining the same from the previous quarter. These interest rates are subject to change for the calendar quarter beginning July 1, 2020, and ending on September 30, 2020. 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. Underpayments (percent) Overpayments (percent) Corporate overpayments (Eff. 1–1–99) (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 5 4 5 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 5 4 5 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6 7 8 7 6 5 4 3 4 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 093003 033104 063004 E:\FR\FM\03APN1.SGM 03APN1 19004 Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices Beginning date 070104 100104 040105 100105 070106 010108 040108 070108 100108 010109 040109 010111 040111 100111 040116 040118 010119 070119 ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... ........................................................................................................... Dated: March 30, 2020. Jeffrey Caine, Acting Chief Financial Officer, U.S. Customs and Border Protection. [FR Doc. 2020–06974 Filed 4–2–20; 8:45 am] BILLING CODE 9111–14–P DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Docket ID FEMA–2020–0002; Internal Agency Docket No. FEMA–B–2023] Changes in Flood Hazard Determinations Federal Emergency Management Agency, DHS. ACTION: Notice. AGENCY: This notice lists communities where the addition or modification of Base Flood Elevations (BFEs), base flood depths, Special Flood Hazard Area (SFHA) boundaries or zone designations, or the regulatory floodway (hereinafter referred to as flood hazard determinations), as shown on the Flood Insurance Rate Maps (FIRMs), and where applicable, in the supporting Flood Insurance Study (FIS) reports, prepared by the Federal Emergency Management Agency (FEMA) for each community, is appropriate because of new scientific or technical data. The FIRM, and where applicable, portions of the FIS report, have been revised to reflect these flood hazard determinations through issuance of a Letter of Map Revision (LOMR), in accordance with Federal Regulations. The LOMR will be used by insurance agents and others to calculate SUMMARY: jbell on DSKJLSW7X2PROD with NOTICES Ending date VerDate Sep<11>2014 17:45 Apr 02, 2020 Jkt 250001 Underpayments (percent) Overpayments (percent) Corporate overpayments (Eff. 1–1–99) (percent) 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 6 5 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 6 5 3 4 5 6 7 6 5 4 5 4 3 2 3 2 3 4 5 4 093004 033105 093005 063006 123107 033108 063008 093008 123108 033109 123110 033111 093011 033116 033118 123118 063019 093020 appropriate flood insurance premium rates for new buildings and the contents of those buildings. For rating purposes, the currently effective community number is shown in the table below and must be used for all new policies and renewals. DATES: These flood hazard determinations will be finalized on the dates listed in the table below and revise the FIRM panels and FIS report in effect prior to this determination for the listed communities. From the date of the second publication of notification of these changes in a newspaper of local circulation, any person has 90 days in which to request through the community that the Deputy Associate Administrator for Insurance and Mitigation reconsider the changes. The flood hazard determination information may be changed during the 90-day period. ADDRESSES: The affected communities are listed in the table below. Revised flood hazard information for each community is available for inspection at both the online location and the respective community map repository address listed in the table below. Additionally, the current effective FIRM and FIS report for each community are accessible online through the FEMA Map Service Center at https:// msc.fema.gov for comparison. Submit comments and/or appeals to the Chief Executive Officer of the community as listed in the table below. FOR FURTHER INFORMATION CONTACT: Rick Sacbibit, Chief, Engineering Services Branch, Federal Insurance and Mitigation Administration, FEMA, 400 C Street SW, Washington, DC 20472, (202) 646–7659, or (email) PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 patrick.sacbibit@fema.dhs.gov; or visit the FEMA Mapping and Insurance eXchange (FMIX) online at https:// www.floodmaps.fema.gov/fhm/fmx_ main.html. The specific flood hazard determinations are not described for each community in this notice. However, the online location and local community map repository address where the flood hazard determination information is available for inspection is provided. Any request for reconsideration of flood hazard determinations must be submitted to the Chief Executive Officer of the community as listed in the table below. The modifications are made pursuant to section 201 of the Flood Disaster Protection Act of 1973, 42 U.S.C. 4105, and are in accordance with the National Flood Insurance Act of 1968, 42 U.S.C. 4001 et seq., and with 44 CFR part 65. The FIRM and FIS report are the basis of the floodplain management measures that the community is required either to adopt or to show evidence of having in effect in order to qualify or remain qualified for participation in the National Flood Insurance Program (NFIP). These flood hazard determinations, together with the floodplain management criteria required by 44 CFR 60.3, are the minimum that are required. They should not be construed to mean that the community must change any existing ordinances that are more stringent in their floodplain management requirements. The community may at any time enact stricter requirements of its own or pursuant to policies established by other Federal, State, or regional entities. The SUPPLEMENTARY INFORMATION: E:\FR\FM\03APN1.SGM 03APN1

Agencies

[Federal Register Volume 85, Number 65 (Friday, April 3, 2020)]
[Notices]
[Pages 19002-19004]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06974]


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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.

-----------------------------------------------------------------------

[[Page 19003]]

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 April 1, 2020, 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, 
2020.

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 2020-7, the IRS determined the rates of interest 
for the calendar quarter beginning April 1, 2020, and ending on June 
30, 2020. 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 remaining the same from the 
previous quarter. These interest rates are subject to change for the 
calendar quarter beginning July 1, 2020, and ending on September 30, 
2020.
    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
                                                                  Underpayments    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
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

[[Page 19004]]

 
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
010119.........................................          063019                6               6               5
070119.........................................          093020                5               5               4
----------------------------------------------------------------------------------------------------------------


    Dated: March 30, 2020.
Jeffrey Caine,
Acting Chief Financial Officer, U.S. Customs and Border Protection.
[FR Doc. 2020-06974 Filed 4-2-20; 8:45 am]
BILLING CODE 9111-14-P