IRS Interest Rates Remain Unchanged for Interest on Overdue Accounts and Refunds

CBP said in a Federal Register notice scheduled for April 30 publication 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 as for the previous quarter. For the calendar quarter that began April 1, the interest rates for underpayments will be 7% for both corporations and non-corporations. The interest rate for overpayments will be 7% for non-corporations and 6% for corporations.