Quarterly Internal Revenue Service Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds of Customs Duties, 9036-9038 [2025-02228]
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9036
Federal Register / Vol. 90, No. 23 / Wednesday, February 5, 2025 / Notices
defined by the numbers of children and
families served by CCDF. There were
expected variations in responses which
may reflect differences in States’
administrative structures and
complexity, staff capacity, reporting
technology, interpretation of the survey
questions, and other factors. However,
even considering the range of responses
and any outliers, OCC determined that
the burden hours estimates should be
lowered to reflect the survey results. In
addition, to more accurately account for
the work described by survey
respondents, OCC further broke out the
estimated burden hours for the RRW
into the following two parts: (1) the
estimated hours needed for States to
customize the standard RRW template
to reflect their State’s rules, policies,
and procedures; and (2) the estimated
hours needed for States to use the
customized RRW to conduct each of the
276 case reviews.
• Root Causes of Error: OCC proposes
to standardize the root causes of error in
Item 19 of the ACF–404 State Improper
Payment Report by creating a dropdown list of error cause choices.
Currently, Lead Agencies enter free text
to describe the causes of errors in their
Federal error rate reviews. While this
approach allows flexibility at the
individual reporting level, inconsistent
terminology and descriptions across
States and reporting cycles makes it
difficult to analyze, report, and track
national and State-level error trends
over time. Further, the current approach
can add additional burden to States
during the report review and approval
process because clarifications about
Instrument
Total number
of respondents
Total
number of
responses per
respondent
52
52
52
52
1
1
276
1
35
63
3.0
66
1,820
3,276
43,056
3,432
607
1,092
14,352
1,144
6
a2
24
288
96
........................
........................
........................
........................
17,291
Sampling Decisions, Assurances, and Fieldwork Preparation Plan ...........................................................................
ACF–403 Record Review Worksheet: template ..................
ACF–403 Record Review Worksheet: case record reviews
ACF–404 State Improper Payments Report ........................
ACF–405 State Improper Payments Report Corrective Action Plan ...........................................................................
Estimated Total Annual Burden Hours .........................
error cause descriptions are often
requested by Federal reviewers. We
request comment on whether
standardizing error causes in Item 19
would benefit Lead Agencies in their
data analysis, ease of report preparation,
and tracking of error trends over time.
We also request comments on whether
the proposed list of standardized error
causes would meet Lead Agency
reporting needs, and if not, what
additional or different error causes
should be included.
Respondents: CCDF grantees from
states, the District of Columbia, and
Puerto Rico.
Annual Burden Estimates: Burden
estimates are shown based on the total
burden over a 3-year period divided by
three to show average annual burden
estimates.
Average
burden hours
per response
Total burden
hours
Annual burden
hours
a The
total number of responses per respondent over a 3-year period ranges from 1–3, depending on how long it takes respondents to reduce
the Improper Payment Rate to below the threshold. Respondents submit a Corrective Action Plan that covers a 1-year period; at the end of each
year, if respondents have not reduced the Improper Payment Rate to below the threshold, they submit a new Corrective Action Plan for the following year. An average of two responses per respondent over 3 years is used to calculate annual burden estimates.
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: General notice.
the calendar quarter beginning January
1, 2025, the interest rates for
underpayments will be 7 percent for
both corporations and non-corporations.
The interest rate for overpayments will
be 7 percent for non-corporations and 6
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 January 1,
2025.
FOR FURTHER INFORMATION CONTACT:
Bruce Ingalls, Revenue Division,
Collection Refunds & Analysis Branch,
8899 E 56th Street, Mail Stop 203J,
Indianapolis, IN 46249; telephone (317)
298–1107.
SUPPLEMENTARY INFORMATION:
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
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
Authority: 45 CFR part 98, subpart K.
Mary C. Jones,
ACF/OPRE Certifying Officer.
[FR Doc. 2025–02240 Filed 1–31–25; 4:15 pm]
BILLING CODE 4184–87–P
DEPARTMENT OF HOMELAND
SECURITY
U.S. Customs and Border Protection
Quarterly Internal Revenue Service
Interest Rates Used in Calculating
Interest on Overdue Accounts and
Refunds of Customs Duties
ddrumheller on DSK120RN23PROD with NOTICES1
AGENCY:
SUMMARY:
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Sfmt 4703
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 2024–25, the IRS
determined the rates of interest for the
calendar quarter beginning January 1,
2025, and ending on March 31, 2025.
The interest rate paid to the Treasury for
underpayments will be the Federal
short-term rate (4%) plus three
percentage points (3%) for a total of
seven percent (7%) for both
corporations and non-corporations. For
overpayments made by noncorporations, the rate is the Federal
short-term rate (4%) plus three
E:\FR\FM\05FEN1.SGM
05FEN1
9037
Federal Register / Vol. 90, No. 23 / Wednesday, February 5, 2025 / Notices
percentage points (3%) for a total of
seven percent (7%). For corporate
overpayments, the rate is the Federal
short-term rate (4%) plus two
percentage points (2%) for a total of six
percent (6%). 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 April 1, 2025, and ending on
June 30, 2025.
For the convenience of the importing
public and U.S. Customs and Border
ddrumheller on DSK120RN23PROD with NOTICES1
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
070104
100104
040105
100105
070106
010108
040108
070108
100108
010109
040109
010111
040111
100111
040116
040118
010119
070119
070120
040122
070122
100122
010123
Ending date
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VerDate Sep<11>2014
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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
093004
033105
093005
063006
123107
033108
063008
093008
123108
033109
123110
033111
093011
033116
033118
123118
063019
063020
033122
063022
093022
123122
093023
Sfmt 4703
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)
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
4
5
6
7
8
7
6
5
6
5
4
3
4
3
4
5
6
5
3
4
5
6
7
E:\FR\FM\05FEN1.SGM
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
4
5
6
7
8
7
6
5
6
5
4
3
4
3
4
5
6
5
3
4
5
6
7
05FEN1
Corporate
overpayments
(eff. 1–1–99)
(percent)
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
............................
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
9038
Federal Register / Vol. 90, No. 23 / Wednesday, February 5, 2025 / Notices
Beginning date
Ending date
100123 .................................................................................................
010125 .................................................................................................
Crinley S. Hoover,
Acting Chief Financial Officer, U.S. Customs
and Border Protection.
[FR Doc. 2025–02228 Filed 2–4–25; 8:45 am]
BILLING CODE 9111–14–P
DEPARTMENT OF HOMELAND
SECURITY
U.S. Customs and Border Protection
Implementation of Additional Duties on
Products of the People’s Republic of
China Pursuant to the President’s
February 1, 2025 Executive Order
Imposing Duties To Address the
Synthetic Opioid Supply Chain in the
People’s Republic of China
U.S. Customs and Border
Protection, Department of Homeland
Security.
ACTION: Notice.
AGENCY:
In order to effectuate the
President’s February 1, 2025 Executive
Order ‘‘Imposing Duties to Address the
Synthetic Opioid Supply Chain in the
People’s Republic of China,’’ which
imposes specified rates of duty on
imports of articles that are products of
the People’s Republic of China (PRC or
China), the Secretary of Homeland
Security has determined that
appropriate action is needed to modify
the Harmonized Tariff Schedule of the
United States (HTSUS) as set out in the
annex to this notice.
DATES: The duties set out in the annex
to this document are effective with
respect to products of the PRC that are
entered for consumption, or withdrawn
from warehouse for consumption, on or
after 12:01 a.m. eastern standard time on
February 4, 2025.
FOR FURTHER INFORMATION CONTACT:
Brandon Lord, Executive Director, Trade
Policy and Programs, Office of Trade,
U.S. Customs and Border Protection,
(202) 325–6432 or by email at
traderemedy@cbp.dhs.gov. Susan
Thomas, Executive Director, Cargo and
Conveyance Security, Office of Field
Operations, U.S. Customs and Border
Protection, (202) 344–3401 or by email
at traderemedy@cbp.dhs.gov.
SUPPLEMENTARY INFORMATION: On
January 20, 2025, the President declared
a national emergency with respect to the
grave threat to the United States posed
ddrumheller on DSK120RN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
16:56 Feb 04, 2025
Jkt 265001
Underpayments
(percent)
123124
033125
by the influx of illegal aliens and drugs
into the United States in Proclamation
10886 (Declaring a National Emergency
at the Southern Border). See National
Emergencies Act (50 U.S.C. 1601 et seq.)
(NEA).
On February 1, 2025, the President
expanded the scope of the national
emergency declared in that
proclamation to cover the failure of the
People’s Republic of China (PRC or
China) government to arrest, seize,
detain, or otherwise intercept, chemical
precursor suppliers, money launderers,
other transnational criminal
organizations, criminals at large, and
drugs. In addition, the President
determined that this failure to act on the
part of the PRC constitutes an unusual
and extraordinary threat, which has its
source in substantial part outside the
United States, to the national security,
foreign policy, and economy of the
United States.
To address this threat, pursuant to the
International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.)
(IEEPA), the NEA, section 604 of the
Trade Act of 1974, as amended (19
U.S.C. 2483), and 3 U.S.C. 301, the
President imposed ad valorem tariffs on
all imports that are products of the PRC,
excluding those encompassed by 50
U.S.C. 1702(b). Specifically, the
February 1, 2025 Executive Order
adjusted duties on imported products of
the PRC, by imposing, consistent with
law, an additional 10 percent ad
valorem rate of duty as described in the
annex to this notice.
The Executive Order directed the
Secretary of Homeland Security, to
determine and implement the necessary
modifications to the Harmonized Tariff
Schedule of the United States (HTSUS),
consistent with law, in order to
effectuate the Executive Order.
In order to implement the rates of
duty imposed by the Executive Order,
effective on 12:01 a.m. eastern standard
time on February 4, 2025, subchapter III
of chapter 99 of the HTSUS is modified
by the annex to this notice.
Articles that are the products of
China, which hereinafter will include
products of Hong Kong in accordance
with Executive Order 13936 on Hong
Kong Normalization (See 85 FR 43413
(July 17, 2020)), excluding those
encompassed by 50 U.S.C. 1702(b), that
PO 00000
Frm 00023
Fmt 4703
Sfmt 4703
Corporate
overpayments
(eff. 1–1–99)
(percent)
Overpayments
(percent)
8
7
8
7
7
6
are entered for consumption, or
withdrawn from warehouse for
consumption, on or after 12:01 a.m.
eastern standard time on February 4,
2025, will be subject to the additional
ad valorem rate of duty provided for in
new HTSUS heading 9903.01.20, except
that goods entered for consumption, or
withdrawn from warehouse for
consumption, after 12:01 a.m. eastern
standard time on February 4, 2025, that
were loaded onto a vessel at the port of
loading, or in transit on the final mode
of transport prior to entry into the
United States, before 12:01 a.m. eastern
time on February 1, 2025, shall not be
subject to such additional duty only if
the importer certifies to CBP that the
goods so qualify by declaring new
HTSUS heading 9903.01.23 as described
in the annex to this notice. The
exception for goods that were in transit
before February 1, 2025 is time limited,
to prevent importers from abusing this
provision when it is no longer realistic
due to the passage of time, as provided
in new HTSUS heading 9903.01.23 that
is described the annex to this notice,
and will only apply to goods entered for
consumption, or withdrawn from
warehouse for consumption, on or after
12:01 a.m. eastern standard time on
February 4, 2025, and before 12:01 a.m.
eastern standard time on March 7, 2025.
Imported products of China that are
encompassed by 50 U.S.C. 1702(b) will
not be subject to the additional ad
valorem duty provided for in new
HTSUS heading 9903.01.20, but such
qualifying products, other than products
for personal use included in
accompanied baggage of persons
arriving in the United States, must be
declared and entered under new HTSUS
heading 9903.01.21 or new HTSUS
heading 9903.01.22. Specifically, new
HTSUS heading 9903.01.21 covers
products encompassed by 50 U.S.C.
1702(b)(2) and new HTSUS heading
9903.01.22 covers products
encompassed by 50 U.S.C. 1702(b)(3).1
1 50 U.S.C. 1702(b)(1) covers ‘‘postal, telegraphic,
telephonic, or other personal communication[s],
which do[ ] not involve a transfer of anything of
value,’’ and hence does not encompass any
imported articles of merchandise. 50 U.S.C.
1702(b)(4) covers ‘‘transactions ordinarily incident
to travel to or from any country, including [1]
importation of accompanied baggage for personal
use, [2] maintenance within any country including
payment of living expenses and acquisition of
E:\FR\FM\05FEN1.SGM
05FEN1
]]>Agencies
[Federal Register Volume 90, Number 23 (Wednesday, February 5, 2025)]
[Notices]
[Pages 9036-9038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02228]
-----------------------------------------------------------------------
DEPARTMENT OF HOMELAND SECURITY
U.S. Customs and Border Protection
Quarterly Internal Revenue Service 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 decrease from the previous quarter. For the calendar quarter
beginning January 1, 2025, the interest rates for underpayments will be
7 percent for both corporations and non-corporations. The interest rate
for overpayments will be 7 percent for non-corporations and 6 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 January
1, 2025.
FOR FURTHER INFORMATION CONTACT: Bruce Ingalls, Revenue Division,
Collection Refunds & Analysis Branch, 8899 E 56th Street, Mail Stop
203J, Indianapolis, IN 46249; 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 2024-25, the IRS determined the rates of interest
for the calendar quarter beginning January 1, 2025, and ending on March
31, 2025. The interest rate paid to the Treasury for underpayments will
be the Federal short-term rate (4%) plus three percentage points (3%)
for a total of seven percent (7%) for both corporations and non-
corporations. For overpayments made by non-corporations, the rate is
the Federal short-term rate (4%) plus three
[[Page 9037]]
percentage points (3%) for a total of seven percent (7%). For corporate
overpayments, the rate is the Federal short-term rate (4%) plus two
percentage points (2%) for a total of six percent (6%). 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 April 1, 2025, and ending on June 30, 2025.
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
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
[[Page 9038]]
100123.................................... 123124 8 8 7
010125.................................... 033125 7 7 6
----------------------------------------------------------------------------------------------------------------
Crinley S. Hoover,
Acting Chief Financial Officer, U.S. Customs and Border Protection.
[FR Doc. 2025-02228 Filed 2-4-25; 8:45 am]
BILLING CODE 9111-14-P
