- Jun 27, 2024
- 1 min read
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.