U.S. CUSTOMS AND BORDER PROTECTION ISSUES NOTICE: QUARTERLY IRS INTEREST RATES USED IN CALCULATING INTEREST ON OVERDUE ACCOUNTS AND REFUNDS OF CUSTOMS DUTIES

WASHINGTON, April 30 -- U.S. Customs and Border Protection has issued a notice called: Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds of Customs Duties.

The notice was published in the Federal Register on April 30 by Jeffrey Caine, Chief Financial Officer, U.S. Customs and Border Protection.

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, 2025, the interest rates for underpayments will be 7 percent for both corporations and non-corporations. The inte...