Today, Treasury and the IRS issued Notice 2015-10, which states that Treasury and the IRS are concerned about situations in which persons subject to chapter 3 or chapter 4 withholding make claims for refunds or credits where a withholding agent has failed to deposit the amounts withheld.  According to the notice, Treasury and the IRS will issue regulations providing that a refund or credit will be allowed with respect to an overpayment of withholding tax only to the extent the relevant withholding agent has deposited the amount withheld and such amount is in excess of the claimant’s tax liability.  The regulations will also provide for a pro rata allocation of the amount available to the claimant for refund or credit when a withholding agent has partially satisfied its deposit requirements.