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Current as of October 02, 2022 | Updated by FindLaw Staff
(a) Year 1 is the calendar year in which the agency reimburses you for a specific expense, provides an allowance, or pays a vendor directly. If your reimbursements, allowances, and/or direct payments to vendors occur in more than one calendar year, you will have more than one Year 1.
(b) Year 2 is the calendar year in which you submit your RITA claim and your agency pays your RITA to you.
(c) In most cases:
(1) For every Year 1 you will have a corresponding Year 2;
(2) Every Year 2 immediately follows a Year 1; and
(3) Year 2 is the year in which you file a tax return reflecting your remaining tax liability for taxable reimbursement(s), allowance(s), and/or direct payments to vendors in each Year 1.
(d) [Reserved by 84 FR 64783]
Cite this article: FindLaw.com - Code of Federal Regulations Title 41. Public Contracts and Property Management § 41.302–17.60 How are the terms “Year 1” and “Year 2” used in the two-year RITA process? - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-41-public-contracts-and-property-management/cfr-sect-41-302-17-60/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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