[Federal Register Volume 78, Number 65 (Thursday, April 4, 2013)]
[Notices]
[Pages 20349-20351]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-07838]


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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.

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SUMMARY: This notice advises the public of the quarterly Internal 
Revenue Service interest rates used to calculate interest on overdue 
accounts (underpayments) and refunds (overpayments) of customs duties. 
For the calendar quarter beginning April 1, 2013, 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: Effective Date: April 1, 2013.

FOR FURTHER INFORMATION CONTACT: Ron Wyman, Revenue Division, 
Collection and Refunds Branch, 6650 Telecom Drive, Suite 100, 
Indianapolis, Indiana 46278; telephone (317) 614-4516.

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 was amended (at paragraph 
(a)(1)(B) by the Internal Revenue Service Restructuring and Reform Act 
of 1998, Public Law 105-206, 112 Stat. 685) to provide 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 2013-6, the IRS determined the rates of interest 
for the calendar quarter beginning April 1, 2013, and ending on June 
30, 2013. The interest rate paid to the Treasury for

[[Page 20350]]

underpayments will be the Federal short-term rate (1%) plus two 
percentage points (2%) for a total of three percent (3%) for both 
corporations and non-corporations. For corporate overpayments, the rate 
is the Federal short-term rate (1%) plus one percentage point (1%) for 
a total of two percent (2%). For overpayments made by non-corporations, 
the rate is the Federal short-term rate (1%) plus two percentage points 
(2%) for a total of three percent (3%). These interest rates are 
subject to change for the calendar quarter beginning July 1, 2013, and 
ending September 30, 2013.
    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 before July of 1974 to date, to 
calculate interest on overdue accounts and refunds of customs duties, 
is published in summary format.

------------------------------------------------------------------------
                                                            Corporate
  Beginning                    Under-         Over-       overpayments
    date       Ending date    payments      payments      (Eff. 1-1-99)
                              (percent)     (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   ................
     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        063013             3             3                 2
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[[Page 20351]]

    Dated: April 1, 2013.
Thomas S. Winkowski,
Deputy Commissioner of U.S. Customs and Border Protection, Performing 
the duties of the Commissioner of CBP.
[FR Doc. 2013-07838 Filed 4-3-13; 8:45 am]
BILLING CODE 9111-14-P