Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds of Customs Duties, 23604-23605 [2024-07133]
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23604
Federal Register / Vol. 89, No. 66 / Thursday, April 4, 2024 / Notices
We accept anonymous comments. All
comments received will be posted
without change to https://
www.regulations.gov and will include
any personal information you have
provided. For more about privacy and
submissions in response to this
document, see DHS’s eRulemaking
System of Records notice (85 FR 14226,
March 11, 2020).
Title: Unauthorized Entry into Cuban
Territorial Waters.
OMB Control Number: 1625–0106.
Summary: The Coast Guard, pursuant
to Presidential proclamation and order
of the Secretary of Homeland Security,
is requiring U.S. vessels, and vessels
without nationality, less than 100
meters, located within the internal
waters or the 12 nautical mile territorial
sea of the United States, that thereafter
enter Cuban territorial waters, to apply
for and receive a Coast Guard permit.
Need: The information is collected to
regulate departure from U.S. territorial
waters of U.S. vessels, and vessels
without nationality, and entry thereafter
into Cuban territorial waters. The need
to regulate this vessel traffic supports
ongoing efforts to enforce the Cuban
embargo, which is designed to bring
about an end to the current government
and a peaceful transition to democracy.
Accordingly, only applicants that
demonstrate prior U.S. government
approval for exports to and transactions
with Cuba will be issued a Coast Guard
permit.
The permit regulation requires that
applicants hold United States
Department of Commerce, Bureau of
Industry and Security (BIS) and U.S.
Department of Treasury the Office of
Foreign Assets Control (OFAC) licenses
that permit exports to and transactions
with Cuba. The USCG permit process
thus allows the agency to collect
information from applicants about their
status vis-a`-vis BIS and OFAC licenses
and monitor compliance with BIS and
OFAC regulations. These two agencies
administer statutes and regulations that
proscribe exports to (BIS) and
transactions with (OFAC) Cuba.
Accordingly, in order to assist BIS and
OFAC in the enforcement of these
license requirements, as directed by the
President and the Secretary of
Homeland Security, the Coast Guard is
requiring certain U.S. vessels, and
vessels without nationality, to
demonstrate that they hold these
licenses before they depart for Cuban
waters.
Forms: CG–3300, Application for
Permit to Enter Cuban Territorial Seas.
Respondents: Owners and operators
of vessels.
Frequency: On occasion.
Hour Burden Estimate: The estimated
burden remains around 5 hours per
year.
Authority: The Paperwork Reduction
Act of 1995; 44 U.S.C. chapter 35, as
amended.
Dated: March 29, 2024.
Kathleen Claffie,
Chief, Office of Privacy Management, U.S.
Coast Guard.
[FR Doc. 2024–07126 Filed 4–3–24; 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 of 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 April 1, 2024, the interest
rates for underpayments will be 8
percent for both corporations and noncorporations. The interest rate for
overpayments will be 8 percent for noncorporations and 7 percent for
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, 2024.
FOR FURTHER INFORMATION CONTACT:
Bruce Ingalls, Revenue Division,
Collection Refunds & Analysis Branch,
6650 Telecom Drive, Suite #100,
Indianapolis, Indiana 46278; telephone
(317) 298–1107.
SUMMARY:
Beginning date
Ending date
070174 .....................................................................................
070175 .....................................................................................
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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 2024–6, the IRS
determined the rates of interest for the
calendar quarter beginning April 1,
2024, and ending on June 30, 2024. The
interest rate paid to the Treasury for
underpayments will be the Federal
short-term rate (5%) plus three
percentage points (3%) for a total of
eight percent (8%) for both corporations
and non-corporations. For
overpayments made by noncorporations, the rate is the Federal
short-term rate (5%) plus three
percentage points (3%) for a total of
eight percent (8%). For corporate
overpayments, the rate is the Federal
short-term rate (5%) plus two
percentage points (2%) for a total of
seven percent (7%). 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 July 1, 2024, and ending on
September 30, 2024.
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)
Corporate
overpayments
(eff. 1–1–99)
(percent)
Overpayments
(percent)
063075
013176
6
9
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6
9
04APN1
..............................
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23605
Federal Register / Vol. 89, No. 66 / Thursday, April 4, 2024 / Notices
Beginning date
ddrumheller on DSK120RN23PROD with NOTICES1
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
070104
100104
040105
100105
070106
010108
040108
070108
100108
010109
040109
010111
040111
100111
040116
040118
010119
070119
070120
040122
070122
100122
010123
100123
Ending date
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Underpayments
(percent)
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
093004
033105
093005
063006
123107
033108
063008
093008
123108
033109
123110
033111
093011
033116
033118
123118
063019
063020
033122
063022
093022
123122
093023
063024
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
4
5
6
7
8
7
6
5
6
5
4
3
4
3
4
5
6
5
3
4
5
6
7
8
Sfmt 9990
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Overpayments
(percent)
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
4
5
6
7
8
7
6
5
6
5
4
3
4
3
4
5
6
5
3
4
5
6
7
8
Dated: March 28, 2024.
Crinley S. Hoover,
Acting Chief Financial Officer, U.S. Customs
and Border Protection.
[FR Doc. 2024–07133 Filed 4–3–24; 8:45 am]
BILLING CODE 9111–14–P
VerDate Sep<11>2014
17:01 Apr 03, 2024
Jkt 262001
PO 00000
Frm 00069
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04APN1
Corporate
overpayments
(eff. 1–1–99)
(percent)
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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
3
4
5
6
7
]]>Agencies
[Federal Register Volume 89, Number 66 (Thursday, April 4, 2024)]
[Notices]
[Pages 23604-23605]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07133]
-----------------------------------------------------------------------
DEPARTMENT OF HOMELAND SECURITY
U.S. Customs and Border Protection
Quarterly IRS Interest Rates Used in Calculating Interest on
Overdue Accounts and Refunds of 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 April 1, 2024, the interest rates for underpayments
will be 8 percent for both corporations and non-corporations. The
interest rate for overpayments will be 8 percent for non-corporations
and 7 percent for 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,
2024.
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 2024-6, the IRS determined the rates of interest
for the calendar quarter beginning April 1, 2024, and ending on June
30, 2024. The interest rate paid to the Treasury for underpayments will
be the Federal short-term rate (5%) plus three percentage points (3%)
for a total of eight percent (8%) for both corporations and non-
corporations. For overpayments made by non-corporations, the rate is
the Federal short-term rate (5%) plus three percentage points (3%) for
a total of eight percent (8%). For corporate overpayments, the rate is
the Federal short-term rate (5%) plus two percentage points (2%) for a
total of seven percent (7%). 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
July 1, 2024, and ending on September 30, 2024.
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 .................
[[Page 23605]]
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
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.............................. 033122 3 3 2
040122.............................. 063022 4 4 3
070122.............................. 093022 5 5 4
100122.............................. 123122 6 6 5
010123.............................. 093023 7 7 6
100123.............................. 063024 8 8 7
----------------------------------------------------------------------------------------------------------------
Dated: March 28, 2024.
Crinley S. Hoover,
Acting Chief Financial Officer, U.S. Customs and Border Protection.
[FR Doc. 2024-07133 Filed 4-3-24; 8:45 am]
BILLING CODE 9111-14-P
