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TREAS/IRS

RIN: 1545-BQ80

Publication ID: Fall 2023

Title: ●Recapture of Interest on Excess Credits under FFCRA, CARES Act, and ARP Act
Abstract: 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).
Agency: Department of the Treasury(TREAS)	Priority: Substantive, Nonsignificant
RIN Status: First time 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. secs. 3131 to 3134 26 U.S.C. sec. 7805 Families First Coronavirus Response Act, Pub. L. 116-127 Coronavirus Aid, Relief, and Economic Security Act, P.L. 116-136

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Temporary Regulation	01/00/2024

Additional Information: REG-109032-23 (TEMP) Drafter attorney: NaLee Park (202) 317-3602 Reviewer attorney: Andrew Holubeck (202) 317-4787 Treasury attorney: Boyd Brown (771) 201-0022 CC:EEE
Regulatory Flexibility Analysis Required: Undetermined	Government Levels Affected: Local, State, Tribal
Small Entities Affected: Businesses, Governmental Jurisdictions, Organizations	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Andrew Holubeck Senior Counsel Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 4311A, Washington, DC 20224 Phone:202 317-4787 Email: andrew.k.holubeck@irscounsel.treas.gov