H.R. 4826 — Cutting Paperwork for Taxpayers Act

This section establishes an exclusion from gross income for interest paid on tax overpayments under section 6611 to individuals and eligible small businesses described in section 44(b)(1) (i.e., qualified employers under the qualified small business payroll tax credit with an average of 500 or fewer full-time employees). The exclusion applies to taxable years beginning after the date of enactment.