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Quarterly IRS Interest Rates Relating to Customs Duties

Monday, June 24, 2013
Sandler, Travis & Rosenberg Trade Report

U.S. Customs and Border Protection has updated its list of the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties. For the quarter beginning July 1, 2013, the interest rates for overpayments are 2% for corporations and 3% for non-corporations, and the interest rate for underpayments is 3%. These rates have remained unchanged since Oct. 1, 2011.

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