Title 41

SECTION 301-71.212

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

§ 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).

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

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