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 Department of Homeland Security U.S. Customs and Border Protection
 AGENCY: U.S. Customs and Border Protection, Department of Homeland Security.
 ACTION: General notice.
 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, 2015, 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 
                        ( print page 22544)
                        public and U.S. Customs and Border Protection personnel.
 DATES: *Effective Date:*
                         April 1, 2015.
 FOR FURTHER INFORMATION CONTACT: Michael P. Dean, Revenue Division, Collection and Refunds Branch, 6650 Telecom Drive, Suite #100, Indianapolis, Indiana 46278; telephone (317) 614-4882.


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 2015-05, the IRS determined the rates of interest for the calendar quarter beginning April 1, 2015, and ending on June 30, 2015. The interest rate paid to the Treasury for 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, 2015, and ending September 30, 2015. 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. Beginning date
Ending date
Under-
                             payments 
                             (percent)
Over-
                             payments 
                             (percent)
Corporate 
                             overpayments 
                             (eff. 1-1-99) 
                             (percent)070174
063075
6
6070175
013176
9
9020176
013178
7
7020178
013180
6
6020180
013182
12
12020182
123182
20
20010183
063083
16
16070183
123184
11
11010185
063085
13
13070185
123185
11
11010186
063086
10
10070186
123186
9
9010187
093087
9
8100187
123187
10
9010188
033188
11
10040188
093088
10
9100188
033189
11
10040189
093089
12
11100189
033191
11
10040191
123191
10
9010192
033192
9
8040192
093092
8
7100192
063094
7
6070194
093094
8
7100194
033195
9
8040195
063095
10
9070195
033196
9
8040196
063096
8
7070196
033198
9
8040198
123198
8
7010199
033199
7
7
6040199
033100
8
8
7040100
033101
9
9
8040101
063001
8
8
7070101
123101
7
7
6010102
123102
6
6
5010103
093003
5
5
4100103
033104
4
4
3040104
063004
5
5
4070104
093004
4
4
3100104
033105
5
5
4040105
093005
6
6
5100105
063006
7
7
6070106
123107
8
8
7010108
033108
7
7
6040108
063008
6
6
5070108
093008
5
5
4( print page 22545)100108
123108
6
6
5010109
033109
5
5
4040109
123110
4
4
3010111
033111
3
3
2040111
093011
4
4
3100111
063015
3
3
2
 Dated: April 17, 2015. R. Gil Kerlikowske, Commissioner.


[FR Doc. 2015-09345 Filed 4-21-15; 8:45 am] BILLING CODE 9111-14-P