Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 43590-43591 [2020-15479]

Download as PDF 43590 Federal Register / Vol. 85, No. 138 / Friday, July 17, 2020 / Notices Dated: July 13, 2020. Tyeshia M. Roberson, Program Analyst, Office of Federal Advisory Committee Policy. DEPARTMENT OF HEALTH AND HUMAN SERVICES National Institutes of Health National Institute of Allergy and Infectious Diseases Notice of Closed Meeting [FR Doc. 2020–15423 Filed 7–16–20; 8:45 am] Pursuant to section 10(d) of the Federal Advisory Committee Act, as amended, notice is hereby given of the following meeting. The meeting will be closed to the public in accordance with the provisions set forth in sections 552b(c)(4) and 552b(c)(6), Title 5 U.S.C., as amended. The grant applications and the discussions could disclose confidential trade secrets or commercial property such as patentable material, and personal information concerning individuals associated with the grant applications, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. DEPARTMENT OF HOMELAND SECURITY Name of Committee: National Institute of Allergy and Infectious Diseases Special Emphasis Panel Emergency Awards: Rapid Investigation of Severe Acute Respiratory Syndrome Coronavirus 2 (SARS–CoV–2) and Coronavirus Disease 2019 (COVID–19). Date: July 31, 2020. Time: 1:00 p.m. to 5:00 p.m. Agenda: To review and evaluate grant applications. Place: National Institute of Allergy and Infectious Diseases, National Institutes of Health 5601 Fishers Lane, Room 3G13B, Rockville, MD 20892 (Telephone Conference Call). Contact Person: Yong Gao, Ph.D., Scientific Review Officer, Scientific Review Program, Division of Extramural Activities, National Institute of Allergy and Infectious Diseases, National Institutes of Health, 5601 Fishers Lane, Room 3G13B Rockville, MD 20892– 9834 (240) 669–5048, yong.gao@nih.gov. (Catalogue of Federal Domestic Assistance Program Nos. 93.855, Allergy, Immunology, and Transplantation Research; 93.856, Microbiology and Infectious Diseases Research, National Institutes of Health, HHS) BILLING CODE 4140–01–P 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 decrease from the previous quarter. For the calendar quarter beginning July 1, 2020, the interest rates for overpayments will be 2 percent for corporations and 3 percent for non-corporations, and the interest rate for underpayments will be 3 percent for both corporations and noncorporations. 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 July 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: SUMMARY: Background Pursuant to 19 U.S.C. 1505 and Treasury Decision 85–93, published in Ending date khammond on DSKJM1Z7X2PROD with NOTICES Beginning date 070174 070175 020176 020178 020180 020182 010183 070183 010185 070185 010186 ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. ............................................................................................................. VerDate Sep<11>2014 18:12 Jul 16, 2020 Jkt 250001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 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 2020–13, the IRS determined the rates of interest for the calendar quarter beginning July 1, 2020, and ending on September 30, 2020. The interest rate paid to the Treasury for underpayments will be the Federal short-term rate (0%) plus three percentage points (3%) for a total of three percent (3%) for both corporations and non-corporations. For corporate overpayments, the rate is the Federal short-term rate (0%) plus two percentage points (2%) for a total of two percent (2%). For overpayments made by non-corporations, the rate is the Federal short-term rate (0%) plus three percentage points (3%) for a total of three percent (3%). These interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties have decreased from the previous quarter. These interest rates are subject to change for the calendar quarter beginning October 1, 2020, and ending on December 31, 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) 063075 013176 013178 013180 013182 123182 063083 123184 063085 123185 063086 E:\FR\FM\17JYN1.SGM Corporate overpayments (eff. 1–1–99) (percent) Overpayments (percent) 6 9 7 6 12 20 16 11 13 11 10 17JYN1 6 9 7 6 12 20 16 11 13 11 10 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 43591 Federal Register / Vol. 85, No. 138 / Friday, July 17, 2020 / Notices Ending date Beginning date 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 070104 100104 040105 100105 070106 010108 040108 070108 100108 010109 040109 010111 040111 100111 040116 040118 010119 070119 070120 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............................................................................................................. ............................................................................................................. Dated: July 14, 2020. Jeffrey Caine, Chief Financial Officer, U.S. Customs and Border Protection. [FR Doc. 2020–15479 Filed 7–16–20; 8:45 am] khammond on DSKJM1Z7X2PROD with NOTICES 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 093004 033105 093005 063006 123107 033108 063008 093008 123108 033109 123110 033111 093011 033116 033118 123118 063019 063020 093020 DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [Docket ID: FEMA–2020–0021; OMB No. 1660–0118] BILLING CODE 9111–14–P Agency Information Collection Activities: Submission for OMB Review; Comment Request; Homeland Security Exercise and Evaluation Program (HSEEP) Documentation Federal Emergency Management Agency, Homeland Security (DHS). ACTION: 30 Day notice and request for comments. AGENCY: VerDate Sep<11>2014 18:12 Jul 16, 2020 Jkt 250001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 Underpayments (percent) Corporate overpayments (eff. 1–1–99) (percent) Overpayments (percent) 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 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 6 5 3 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 4 5 6 7 8 7 6 5 6 5 4 3 4 3 4 5 6 5 3 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6 7 8 7 6 5 4 3 4 3 4 5 6 7 6 5 4 5 4 3 2 3 2 3 4 5 4 2 The Federal Emergency Management Agency (FEMA) will submit the information collection abstracted below to the Office of Management and Budget for review and clearance in accordance with the requirements of the Paperwork Reduction Act of 1995. The submission will describe the nature of the information collection, the categories of respondents, the estimated burden (i.e., the time, effort and resources used by respondents to respond) and cost, and the actual data collection instruments FEMA will use. DATES: Comments must be submitted on or before August 17, 2020. ADDRESSES: Written comments and recommendations for the proposed SUMMARY: E:\FR\FM\17JYN1.SGM 17JYN1

Agencies

[Federal Register Volume 85, Number 138 (Friday, July 17, 2020)]
[Notices]
[Pages 43590-43591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15479]


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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.

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

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 decrease from the previous quarter. For the calendar quarter 
beginning July 1, 2020, the interest rates for overpayments will be 2 
percent for corporations and 3 percent for non-corporations, and the 
interest rate for underpayments will be 3 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 July 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 2020-13, the IRS determined the rates of interest 
for the calendar quarter beginning July 1, 2020, and ending on 
September 30, 2020. The interest rate paid to the Treasury for 
underpayments will be the Federal short-term rate (0%) plus three 
percentage points (3%) for a total of three percent (3%) for both 
corporations and non-corporations. For corporate overpayments, the rate 
is the Federal short-term rate (0%) plus two percentage points (2%) for 
a total of two percent (2%). For overpayments made by non-corporations, 
the rate is the Federal short-term rate (0%) plus three percentage 
points (3%) for a total of three percent (3%). These interest rates 
used to calculate interest on overdue accounts (underpayments) and 
refunds (overpayments) of customs duties have decreased from the 
previous quarter. These interest rates are subject to change for the 
calendar quarter beginning October 1, 2020, and ending on December 31, 
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
                                                                      Under-      Over- payments   overpayments
                 Beginning date                     Ending date      payments        (percent)     (eff. 1-1-99)
                                                                     (percent)                       (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  ..............

[[Page 43591]]

 
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..........................................          123118               5               5               4
010119..........................................          063019               6               6               5
070119..........................................          063020               5               5               4
070120..........................................          093020               3               3               2
----------------------------------------------------------------------------------------------------------------


    Dated: July 14, 2020.
Jeffrey Caine,
Chief Financial Officer, U.S. Customs and Border Protection.
[FR Doc. 2020-15479 Filed 7-16-20; 8:45 am]
BILLING CODE 9111-14-P