1545-BQ79 202410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Recapture of Interest on Excess Credits Under FFCRA, CARES Act, and ARP Act

These regulations provide the IRS with the regulatory authority to assess as an underpayment of tax any interest paid to a taxpayer on an erroneous refund of the tax credits provided under the Families First Coronavirus Response Act (Families First Act), Public Law No. 116-127, 134 Stat. 178 (March 18, 2020), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat. 281 (March 27, 2020) and the American Rescue Plan Act (ARP Act), Public Law 117-2, 135 Stat. 4 (March 11, 2021).  An NPRM was issued on July 02, 2024.  Treasury and the IRS are reviewing the comments received on the NPRM.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No Not Yet Determined 26 U.S.C. secs. 3131 to 3134 26 U.S.C. 7805 Families First Coronavirus Response Act, Pub. L. 116-127 Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116-136 No NPRM 07/02/2024 89 FR 54742 NPRM Comment Period End 08/16/2024 Final Action 01/00/2025 1. Drafter attorney: NaLee Park, (202) 317-3602 2. Reviewer attorney: Andrew Holubeck, (202) 317-4787 3. Treasury attorney: Boyd Brown, (771) 201-0022 4. REG-109032-23 (NPRM) CC:EEE Undetermined Businesses Governmental Jurisdictions Organizations Local State Tribal No No No 1545-BQ80 Related to Andrew Holubeck Senior Counsel 1545 Internal Revenue Service IRS 202 317-4787 andrew.k.holubeck@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 4311A, Washington DC 20224