(h) TRANSFERS TO CERTAIN TRUST FUNDS.—There 
are hereby appropriated to the Federal Old-Age and Sur-
vivors Insurance Trust Fund and the Federal Disability 
Insurance Trust Fund established under section 201 of 
the Social Security Act (42 U.S.C. 401) and the Social 
Security Equivalent Benefit Account established under 
section 15A(a) of the Railroad Retirement Act of 1974 
(45 U.S.C. 231n–1(a)) amounts equal to the reduction in 
revenues to the Treasury by reason of this section (without 
regard to this subsection). Amounts appropriated by the 
preceding sentence shall be transferred from the general 
fund at such times and in such manner as to replicate 
to the extent possible the transfers which would have oc-
curred to such Trust Fund or Account had this section 
not been enacted. 
(i) TREATMENT OF DEPOSITS.—The Secretary shall 
waive any penalty under section 6656 of such Code for 
any failure to make a deposit of applicable employment 
taxes if the Secretary determines that such failure was due 
to the anticipation of the credit allowed under this section. 
(j) THIRD-PARTY
PAYORS.—Any credit allowed 
under this section shall be treated as a credit described 
in section 3511(d)(2) of such Code. 
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(k) REGULATIONS AND GUIDANCE.—The Secretary 
shall issue such forms, instructions, regulations, and guid-
ance as are necessary— 
(1) to allow the advance payment of the credit 
under subsection (a), subject to the limitations pro-
vided in this section, based on such information as 
the Secretary shall require; 
(2) regulations or other guidance to provide for 
the reconciliation of such advance payment with the 
amount of the credit at the time of filing the return 
of tax for the applicable quarter or taxable year; 
(3) with respect to the application of the credit 
under subsection (a) to third-party payors (including 
professional employer organizations, certified profes-
sional employer organizations, or agents under sec-
tion 3504 of the Internal Revenue Code of 1986), 
including regulations or guidance allowing such 
payors to submit documentation necessary to sub-
stantiate the eligible employer status of employers 
that use such payors; 
(4) for application of subsection (b)(1)(A) and 
subparagraphs (A)(ii)(II) and (B) of subsection 
(c)(2) in the case of any employer which was not 
carrying on a trade or business for all or part of the 
same calendar quarter in the prior year; and 
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(5) for recapturing the benefit of credits deter-
mined under this section in cases where there is a 
subsequent adjustment to the credit determined 
under subsection (a). 
(l) APPLICATION OF SECTION.—This section shall 
apply only to qualified fixed expenses paid or accrued after 
March 12, 2020, and before January 1, 2022. 
(m) AMENDMENT TO PAYCHECK PROTECTION PRO-
GRAM TO COORDINATION WITH CREDIT FOR QUALIFIED 
FIXED EXPENSES.—Section 1106 of the CARES Act is 
amended by adding at the end the following new sub-
section: 
‘‘(l) COORDINATION WITH PAYROLL TAX CREDIT 
FOR QUALIFIED FIXED EXPENSES.—For purposes of this 
section, any payment of interest on any covered mortgage 
obligation, any payment on any covered rent obligation, 
and any covered utility payment shall not include any 
qualified fixed expenses which are taken into account in 
determining the credit allowed under section 2 of the 
Keeping the Lights On Act of 2021.’’. 
Æ 
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