đź“ŠQuarterly IRS Interest Rates for Customs Duties and Business Impact
Quarterly IRS Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds of Customs Duties
Summary
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 remain the same from the previous quarter. For the calendar quarter beginning July 1, 2025, the interest rates for underpayments will be 7 percent for both corporations and non-corporations. The interest rate for overpayments will be 7 percent for non-corporations and 6 percent for corporations. This notice is published for the convenience of the importing public and U.S. Customs and Border Protection personnel.
Agencies
- Homeland Security Department
- U.S. Customs and Border Protection
Business Impact
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The notice outlines the interest rates for overdue accounts and refunds of customs duties, directly affecting businesses importing goods. Knowing the rates—7% for underpayments and varying rates for overpayments—enables businesses to manage financial liabilities and cash flow effectively.