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New York – New York has issued their Interest Assessment Surcharge (IAS) to all Employers in order to continue paying of the Title XII Federal Loans that were taken as a result of the COVID-19 Pandemic.

 

The amount of the surcharge is 0.12% of each employer’s 4th Quarter 2022 thru 3rd Quarter 2023 Taxable Wages.  This calculates to an estimated maximum cost of $14.76 per employee.

 

The deadline to submit payment is July 21, 2024.  However, there will be no penalty or interest assessed for submitting the IAS payment at a later date.


In addition, any overpayments/credits on the account will automatically be applied towards the IAS Payments.




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