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 July 1 through Sept. 30, the interest rates for overpayments are six percent for corporations and seven percent for non-corporations, and the interest rate for underpayments is seven percent.
These rates are unchanged from the previous quarter and remain at their highest level since the first quarter of 2008.
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