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 Oct. 1 through Dec. 31, 2023, the interest rates for overpayments have been increased to seven percent for corporations and eight percent for non-corporations, and the interest rate for underpayments has been raised to eight percent.
These rates reflect a one percentage point increase from the previous quarter and are now at their highest level since the last quarter of 2007.
Copyright © 2025 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.