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Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds on Customs Duties

This notice advises the public that the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties will increase 1 percent from the previous quarter. For the calendar quarter beginning April 1, 2016, the interest rates for overpayments will be 3 percent for corporations and 4 percent for noncorporations, and the interest rate for underpayments will be 4 percent for both corporations and non-corporations.

Date: 
Friday, May 13, 2016
Source: 
81 FR 29879
Last modified: 
May 13, 2016