EMPLOYMENT TAX

REG-109032-23, page 332. These proposed regulations under sections 3111, 3131, 3132, 3134 and 3221 of the Internal Revenue Code authorize the assessment and collection of 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. This allows the IRS to efficiently recover any overpayment interest on erroneous refunds while preserving administrative protections for taxpayers.