(a) In general. (1) An employer who has underreported and underpaid employee Federal Insurance Contributions Act (FICA) tax under section 3101 or employer FICA tax under section 3111, employee Railroad Retirement Tax Act (RRTA) tax under section 3201 or employer RRTA tax under section 3221, orincome tax required under section 3402 to be withheld, with respect to any payment of wages or compensation, shall correct such error as provided inthis section. Such correction may constitute an interest-free adjustment as provided in paragraph (b) or (c) of this section.
CFR 26-31.6205-1-2013 history
2013CFR 26-31.6205-1-2013 Internal revenue. Part31:Employment taxes and collection of income tax at source. Section31.6205-1:Adjustments of underpayments.