The IRS on Monday released final rules and removed temporary rules on the recapture of Covid-19 related tax credits that were erroneously distributed.
The agency initially released temporary and proposed rules on Sept. 8, 2021.
The final rules [TD 9978, RIN 1545-BQ08] adopt the proposed rules with minor adjustments. The erroneous refunds of the Covid-19 credits are treated as underpayments and subject to collection procedures, the rules said.
VOLUME 47 A hantavirus outbreak linked to a Dutch cruise ship in early May was followed by false health claims that mirror patterns documented in previous outbreaks, including unsupported claims t...