The law provides a special two-year limit from the date of the overpayment for claiming such a refund. Adjustment documents for such overpayment will bear the same notation. Federal Unemployment Tax Sec. 3301 of the amount of contributions paid by the employer into a state unemployment fund in any taxable year. An additional credit is also allowable under sec.
Credits allowable under sec.
3302, to the extent not previously allowed, are considered an overpayment. No interest is allowed or paid on such overpayment. Example 1 Illustration Internal Revenue Manual Hndbk.