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 Jan. 1 through March 31, 2025, the interest rates for overpayments will be six percent for corporations and seven percent for non-corporations, and the interest rate for underpayments will be seven percent for both corporations and non-corporations.
These rates reflect a one percentage point decrease from the fourth quarter of 2024.
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