27 CFR 70.94
§ 70.94 Interest compounded daily.
United States · 27 CFR — Alcohol, Tobacco Products and Firearms · Status: effective
Cite this
- Citation
- 27 CFR 70.94, § 70.94 Interest compounded daily, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/118607
- Permanent ID
ys:prov:118607@1- SHA-256
6272bcd1b14c82e529d23e839fe00b4d366c00887ff9628d47c4ae3226882730
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) General rule. Effective for interest accruing after December 31, 1982, in computing the amount of any interest required to be paid under any provision of 26 U.S.C. or under 28 U.S.C. 1961(c)(1) or 2411, by the appropriate TTB officer or by the taxpayer, or in computing any other amount determined by reference to such amount of interest, or by reference to the interest rate established under 26 U.S.C. 6621, such interest or such other amount shall be compounded daily by dividing such rate of interest by 365 (366 in a leap year) and compounding such daily interest rate each day.
(b) Applicability to unpaid amounts on December 31, 1982. The unpaid interest (or other amount) that shall be compounded daily includes the interest (or other amount) accrued but unpaid on December 31, 1982.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.