Proposed regulations: Recapture of interest on erroneous refunds of COVID-19 relief employment tax credits

Type
:
Obligation
Tax Area
:
Employment Tax Credits
Status
:
Proposed Regulations
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Jul
,
2024
Docxster’s Summary

The IRS has issued proposed regulations that would allow the recapture of erroneous refunds of employment tax credits. The proposed regulations would apply to the Work Opportunity Tax Credit, the Empowerment Zone Employment Credit, and the Indian Employment Credit. The regulations would also provide guidance on how to recapture the credits and the time period for doing so.

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Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac.

Source :
KPMG
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