Sec. 523. Administrative error correction before due date of return
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(4)of section 223(f) is amended by adding at the end the following new subparagraph: Subparagraph
(A)shall not apply if any payment or distribution is made to correct an administrative, clerical or payroll contribution error and if— such distribution is received by the individual on or before the last day prescribed by law (including extensions of time) for filing such individual's return for such taxable year, and such distribution is accompanied by the amount of net income attributable to such contribution. Any net income described in clause
(ii)shall be included in the gross income of the individual for the taxable year in which it is received. . The amendment made by this section shall take effect on the date of the enactment of this Act.