CBP Issues FR Notice on Unchanged 2Q 2012 IRS Interest Rates

March 27, 2012 by Elizabeth Parker|Customs and Ports

U.S. Customs and Border Protection issued a Federal Register notice saying the second quarter 2012 (April 1 - June 30) Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties are: 2% for overpayments by corporations; 3% for overpayments by non-corporations; and 3% for underpayments. These rates are unchanged from the corresponding rates in effect for the first quarter of calendar year 2012.

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(See ITT's Online Archives 12011357 for summary of the IRS announcing these first quarter 2012 rates in January 2012.)