Regulation & law · 17/10/2006

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

The IRS has announced quarterly interest rates for calculating interest on overdue accounts and refunds of customs duties. The rates remain the same as the previous quarter, with 7% for corporate overpayments and 8% for non-corporate overpayments, and 8% for underpayments. The rates apply to the period starting October 1, 2006.