View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

TREAS/IRS RIN: 1545-BP88 Publication ID: Fall 2022 
Title: Recapture of Excess FFCRA and CARES Credits 

These regulations provide the IRS with the regulatory authority to reconcile and recapture the tax credits provided under the Families First Coronavirus Response Act (Families First Act), Public Law 116-127, 134 Stat. 178 (March 18, 2020), and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat. 281 (March 27, 2020) that had been erroneously credited. The Consolidated Appropriations Act, 2021, Public Law 116-260, 134 Stat. 1182 (December 27, 2020) amended and extended both the credits provided under both Acts. In addition, the American Rescue Plan Act of 2021, Public Law 117-2, 135 Stat. 4 (March 11, 2021) codified the provisions for these tax credits and further amended and extended the credits; the regulations will also apply to the credits as codified.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    Pub. L. 116-127    Pub. L. 116-136   
Legal Deadline:  None
Action Date FR Cite
NPRM  07/29/2020  85 FR 45551   
NPRM Comment Period End  09/28/2020 
Final Action  12/00/2022 
Additional Information: REG-111879-20 (Final) Drafter attorney: NaLee Park (202) 317-6798 Reviewer attorney: Sydney Gernstein Treasury attorney: Andrew Holubeck (202) 317-4774 CC:EEE
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Organizations  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BP89 
Agency Contact:
NaLee Park
Tax Law Specialist
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW, Room 4312,
Washington, DC 20224
Phone:202 317-6798