41 C.F.R. § 301-71.212

Current through September 30, 2024

Section 301-71.212 - Should we report late payment fees as wages on a Form W-2?

No, the Internal Revenue Service (IRS) has determined that the late payment fee is in the nature of interest (compensation for the use of money).

41 C.F.R. §301-71.212

FTR Amdt. 90, 65 FR 3058, Jan. 19, 2000