[Code of Federal Regulations]

[Title 41, Volume 4]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 41CFR301-71.212]



[Page 91]

 

           TITLE 41--PUBLIC CONTRACTS AND PROPERTY MANAGEMENT

 

           CHAPTER 301--TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES

 

PART 301-71_AGENCY TRAVEL ACCOUNTABILITY REQUIREMENTS--Table of Contents

 

                Subpart C_Travel Claims for Reimbursement

 

Sec.  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]