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No Change in Quarterly IRS Interest Rates Relating to Customs Duties

Thursday, April 04, 2013
By Shawn McCausland
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 April 1, 2013, the interest rates for overpayments are 2% for corporations and 3% for non-corporations, and the interest rate for all underpayments is 3%. These rates are unchanged from the previous quarter.

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