41 CFR 301-52.12

§ 301-52.12 Tax reporting of late payment fees.

United States · 41 CFR — Public Contracts and Property Management · Status: effective

Cite this

Citation: 41 CFR 301-52.12, § 301-52.12 Tax reporting of late payment fees, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/199804
Permanent ID: ys:prov:199804@1
SHA-256: 77af5c6e33313ae335d96780d869bccda7ceea5a6b1551df26d7c0689ff37edf

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Full text

Late payment fees will not be reported as wages on a Form W-2. The Internal Revenue Service (IRS) has determined that the late payment fee is in the nature of interest (compensation for money use). The agency will report payments in accordance with IRS guidelines.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.