IRS UPDATES QUARTERLY INTEREST RATES ON CUSTOMS DUTIES
October 19, 2026
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On September 22, 2026, U.S. Customs and Border Protection issued a notice addressing the Internal Revenue Service’s (“IRS”) quarterly interest rates used to calculate interest on customs-duty underpayments and overpayments. Effective October 1, 2026, Revenue Ruling 2026-15 set the interest rate for underpayments at 7 (seven) percent for both corporations and non-corporations. The rate for overpayments is 7 (seven) percent for non-corporations and 6 (six) percent for corporations. These rates remain unchanged from the previous quarter.
The rates had increased in the third quarter of 2026, beginning July 1. At that time, the underpayment rate increased from 6 (six) percent to 7 (seven) percent, the non-corporate overpayment rate increased from 6 (six) percent to 7 (seven) percent, and the corporate overpayment rate increased from 5 (five) percent to 6 (six) percent. The rates are reviewed quarterly and are next subject to change for the quarter beginning January 1, 2027.
This Aviation Regulatory Update is intended to keep readers current on developments in the law. It is not intended to be legal advice. If you have any questions or require additional information, please contact Evelyn D. Sahr at 202.659.6622 or esahr@eckertseamans.com; Drew M. Derco at 202.659.6665 or dderco@eckertseamans.com; Xander B. Silva at 412.566.6069 or xsilva@eckertseamans.com, Tyler R. Myers at 202.659.6642 or trmyers@eckertseamans.com; or any other attorney at Eckert Seamans with whom you have been working.
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