Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties, 64153-64154 [2020-22435]

Download as PDF 64153 Federal Register / Vol. 85, No. 197 / Friday, October 9, 2020 / Notices Numeracy: Considerations for Equity Approaches.’’ Any member of the public interested in presenting oral comments to the Committee should notify the contact person listed on this notice at least 5 days in advance of the meeting. Interested individuals and representatives or organizations should submit a letter of intent, a brief description of the organization represented, and a written copy of their oral presentation in advance of the meeting. Only one representative of an organization will be allowed to present; oral comments and presentations will be limited to a maximum of 5 minutes. Printed and electronic copies are requested for the record. In addition, any interested person may file written comments with the Committee by forwarding their statement to the contact person listed on this notice. The statement should include the name, address, telephone number and when applicable, the business or professional affiliation of the interested person. Because of time constraints for the meeting, oral comments will be allowed on a first-come, first-serve basis. Members of the public who would like to receive email notification about future DMICC meetings should register for the listserv available on the DMICC website, www.diabetescommittee.gov. Dated: October 5, 2020. Bruce Tibor Roberts, Executive Secretary, DMICC, Office of Scientific Program and Policy Analysis, National Institute of Diabetes and Digestive and Kidney Diseases, National Institutes of Health. [FR Doc. 2020–22354 Filed 10–8–20; 8:45 am] BILLING CODE 4140–01–P DEPARTMENT OF HOMELAND SECURITY 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 remain the same from the previous quarter. For the calendar quarter beginning October 1, 2020, the interest rates for overpayments will be 2 percent for corporations and 3 percent for noncorporations, 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 October 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 the Federal Register on May 29, 1985 (50 FR 21832), the interest rate paid on applicable overpayments or underpayments of customs duties must Beginning date 070174 070175 020176 020178 020180 020182 010183 070183 010185 070185 010186 070186 010187 100187 VerDate Sep<11>2014 17:26 Oct 08, 2020 Underpayments (percent) Ending date .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... Jkt 253001 063075 013176 013178 013180 013182 123182 063083 123184 063085 123185 063086 123186 093087 123187 PO 00000 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 2020–18, the IRS determined the rates of interest for the calendar quarter beginning October 1, 2020, and ending on December 31, 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 remain the same from the previous quarter. These interest rates are subject to change for the calendar quarter beginning January 1, 2021, and ending on March 31, 2021. 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. .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... Frm 00046 Fmt 4703 Sfmt 4703 E:\FR\FM\09OCN1.SGM 6 9 7 6 12 20 16 11 13 11 10 9 9 10 09OCN1 Overpayments (percent) Corporate overpayments (eff. 1–1–99) (percent) 6 9 7 6 12 20 16 11 13 11 10 9 8 9 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 64154 Federal Register / Vol. 85, No. 197 / Friday, October 9, 2020 / Notices Beginning date 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 .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... Dated: October 5, 2020. Jeffrey Caine, Chief Financial Officer, U.S. Customs and Border Protection. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–7027–N–32; OMB Control No.: 2502–0404] 60-Day Notice of Proposed Information Collection: Requirements for Single Family Mortgage Instruments Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. 17:26 Oct 08, 2020 Jkt 253001 .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... .......................................................... HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 60 days of public comment. BILLING CODE P AGENCY: 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 123120 SUMMARY: [FR Doc. 2020–22435 Filed 10–8–20; 8:45 am] VerDate Sep<11>2014 Underpayments (percent) Ending date Comments Due Date: December 8, 2020. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Room 4176, Washington, DC DATES: PO 00000 Frm 00047 Fmt 4703 Sfmt 4703 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 Overpayments (percent) Corporate overpayments (eff. 1–1–99) (percent) 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 20410–5000; telephone 202–402–3400 (this is not a toll-free number) or email at Colette.Pollard@hud.gov for a copy of the proposed forms or other available information. Persons with hearing or speech impairments may access this number through TTY by calling the tollfree Federal Relay Service at (800) 877– 8339. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Room 4176, Washington, DC 20410–5000; telephone 202–402–3400 (this is not a toll-free number) or email at Colette.Pollard@hud.gov. Copies of available documents submitted to OMB may be obtained. This notice informs the public that HUD is SUPPLEMENTARY INFORMATION: E:\FR\FM\09OCN1.SGM 09OCN1

Agencies

[Federal Register Volume 85, Number 197 (Friday, October 9, 2020)]
[Notices]
[Pages 64153-64154]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22435]


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DEPARTMENT OF HOMELAND SECURITY

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 remain the same from the previous quarter. For the calendar 
quarter beginning October 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 October 
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 2020-18, the IRS determined the rates of interest 
for the calendar quarter beginning October 1, 2020, and ending on 
December 31, 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 remain the same from the 
previous quarter. These interest rates are subject to change for the 
calendar quarter beginning January 1, 2021, and ending on March 31, 
2021.
    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  ..............

[[Page 64154]]

 
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...............................  123120.................                 3               3               2
----------------------------------------------------------------------------------------------------------------


    Dated: October 5, 2020.
Jeffrey Caine,
Chief Financial Officer, U.S. Customs and Border Protection.
[FR Doc. 2020-22435 Filed 10-8-20; 8:45 am]
BILLING CODE P