{"abstract":"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.","action":"Notice of proposed rulemaking.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2024/07/02/2024-14167.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"31","title":26}],"citation":"89 FR 54742","comment_url":null,"comments_close_on":"2024-08-16","correction_of":null,"corrections":[],"dates":"Written or electronic comments and requests for a public hearing must be received by August 16, 2024.","disposition_notes":null,"docket_ids":["REG-109032-23"],"dockets":[{"supporting_documents":[],"agency_name":"IRS","documents":[{"comment_count":6,"comment_start_date":"2024-07-02","updated_at":"2024-09-03T17:09:49.482-04:00","comment_url":"https://www.regulations.gov/commenton/IRS-2024-0031-0001","allow_late_comments":false,"id":"IRS-2024-0031-0001","comment_end_date":"2024-08-17","regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":0,"id":"IRS-2024-0031","title":"Recapture of Interest on Excess Credits Under the Families First Act, CARES Act, and ARP (REG-109032-23)"}],"document_number":"2024-14167","effective_on":null,"end_page":54746,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2024/07/02/2024-14167.xml","html_url":"https://www.federalregister.gov/documents/2024/07/02/2024-14167/recapture-of-interest-on-excess-credits-under-the-families-first-act-cares-act-and-arp","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2024-14167?publication_date=2024-07-02","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2024-07-02/2024-14167/mods.xml","not_received_for_publication":null,"page_length":5,"page_views":{"count":480,"last_updated":"2026-08-25 18:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-07-02/pdf/2024-14167.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-14167.pdf?1719837915","publication_date":"2024-07-02","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2024/07/02/2024-14167.txt","regulation_id_number_info":{"1545-BQ79":{"issue":"202410","html_url":"https://www.federalregister.gov/regulations/1545-BQ79/recapture-of-interest-on-excess-credits-under-ffcra-cares-act-and-arp-act","title":"Recapture of Interest on Excess Credits Under FFCRA, CARES Act, and ARP Act","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202410&RIN=1545-BQ79&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BQ79"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BQ79/recapture-of-interest-on-excess-credits-under-ffcra-cares-act-and-arp-act","title":"Recapture of Interest on Excess Credits Under FFCRA, CARES Act, and ARP Act"},"comments_count":6,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2024-0031","supporting_documents_count":0,"docket_id":"IRS-2024-0031","document_id":"IRS-2024-0031-0001","regulation_id_number":"1545-BQ79","title":"Recapture of Interest on Excess Credits Under the Families First Act, CARES Act, and ARP (REG-109032-23)","checked_regulationsdotgov_at":"2024-08-18T01:00:11Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":54742,"subtype":null,"title":"Recapture of Interest on Excess Credits Under the Families First Act, CARES Act, and ARP","toc_doc":"Recapture of Interest on Excess Credits under the Families First Act, Coronavirus Aid, Relief, and Economic Security Act Act, and American Rescue Plan Act","toc_subject":null,"topics":["Employment taxes","Fishing vessels","Gambling","Income taxes","Penalties","Pensions","Railroad retirement","Reporting and recordkeeping requirements","Social security","Unemployment compensation"],"type":"Proposed Rule","volume":89}