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

  1. Law
  2. CFR 41
  3. Public Contracts and Property Management
  4. Federal Travel Regulation System
  5. Temporary Duty (TDY) Travel Allowances
  6. Agency Responsibilities
  7. Agency Travel Accountability Requirements
  8. Travel Claims for Reimbursement
  9. Should we report late payment fees as wages on a Form W-2?

Checkout our iOS App for a better way to browser and research.

§ 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]


Download our app to see the most-to-date content.