IRS Interest Rates for Customs Duties: Same Old 7%, No Drama
Published Date: 7/1/2025
Notice
Summary
Starting July 1, 2025, the IRS interest rates for late payments and refunds on customs duties stay steady. If you owe money, expect a 7% interest rate whether you're a business or not. If you’re getting a refund, non-business folks get 7%, and businesses get 6%. This keeps things clear and predictable for everyone dealing with customs duties.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
7% Interest on Late Customs Payments
If you owe customs duties, the IRS interest rate for late payments (underpayments) is 7 percent for both corporations and non-corporations for the calendar quarter beginning July 1, 2025. That 7% rate applies whether you are a business or an individual importer and is used to calculate interest on overdue customs accounts.
Interest on Customs Duty Refunds: 7% and 6%
If you are getting a refund of customs duties for the calendar quarter beginning July 1, 2025, the IRS interest rate paid on overpayments is 7 percent for non-corporations and 6 percent for corporations. Those rates determine the interest added to refund amounts issued by U.S. Customs and Border Protection.
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Key Dates
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