CBP Issues FR Notice on Unchanged 1Q 2012 IRS Interest Rates
U.S. Customs and Border Protection has issued a Federal Register notice stating that the first quarter 2012 (January 1 - March 31 ) Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties are: 2% for overpayments by corporations; 3% for overpayments by non-corporations; and 3% for underpayments. These rates are unchanged from the corresponding rates in effect for the fourth quarter of calendar year 2011.
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(See ITT's Online Archives 11120106 for summary of the IRS announcing these first quarter 2012 rates in December 2011.)