Data / Federal rules / 2024-14167
Recapture of Interest on Excess Credits Under the Families First Act, CARES Act, and ARP
The Internal Revenue Service published this proposed rule in the Federal Register on July 2, 2024. Comments closed on August 16, 2024.
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What the agency says
This document sets forth proposed regulations providing that the IRS will assess as an underpayment of tax any overpayment interest paid to a taxpayer on an erroneous refund of the employment tax credits provided under the Families First Coronavirus Response Act, the Coronavirus Aid, Relief, and Economic Security Act, and the American Rescue Plan Act of 2021. These proposed regulations affect businesses, tax-exempt organizations, and certain governmental entities that claim the paid sick leave credit and the paid family leave credit under the Families First Coronavirus Response Act and the American Rescue Plan Act of 2021, and that claim the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act and the American Rescue Plan Act of 2021.
Key facts
- Document number
- 2024-14167
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking
- Agency
- Treasury Department; Internal Revenue Service
- Published
- July 2, 2024
- Comments due
- August 16, 2024
- Dates
- Written or electronic comments and requests for a public hearing must be received by August 16, 2024.
- Docket
- REG-109032-23
- Regulation ID (RIN)
- 1545-BQ79
- Code of Federal Regulations
- 26 CFR 31
- Topics
- Employment taxes; Fishing vessels; Gambling; Income taxes; Penalties; Pensions; Railroad retirement; Reporting and recordkeeping requirements; Social security; Unemployment compensation
- Pages
- 5
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Everything from the Internal Revenue Service · Rules on employment taxes · Rules on fishing vessels · Rules on gambling · Published in July 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.