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 April 1 through June 30, 2024, the interest rates for overpayments remain seven percent for corporations and eight percent for non-corporations, and the interest rate for underpayments remains eight percent for both corporations and non-corporations.
These rates were most recently increased in the fourth quarter of 2023 and are at their highest level since the last quarter of 2007.
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