be allowed for that portion of the qualified workforce training expenses paid or incurred in a taxable year which is equal to the credit determined under this section with respect to such expenses. (3) Exclusion of governmental and non-profit employers No credit shall be allowed under this section to— (A) any agency or instrumentality of and Federal, State, or local government, or (B) any organization exempt from the tax imposed under chapter 1. (4) Election to not claim credit No credit shall be determined under subsection (a) with respect to so much of the qualified workforce training expenses as the employer elects (at such time and in such manner as the Secretary may provide) to not take into account for purposes of this section. (5) Treatment of deposits The Secretary shall waive any penalty under section 6656 for any failure to make a deposit of any applicable employment taxes if the Secretary determines that such failure was due to the reasonable anticipation of the credit allowed under this section. (6) Extension of limitation on assessment Notwithstanding section 6501, the limitation on the time period for the assessment of any amount attributable to a credit claimed under this section shall not expire before the date that is 5 years after the later of— (A) the date on which the original return which includes the calendar quarter with respect to which such credit is determined is filed, or (B) the date on which such return is treated as filed under section 6501(b)(2). (g) Regulations and guidance The Secretary shall issue such forms, instructions, regulations, and other guidance as are necessary— (1) with respect to the application of the credit under this section to third party payors (including professional employer organizations, certified professional employer organizations, or agents under section 3504), including regulations or guidance allowing such payors to submit documentation necessary to substantiate such credit, (2) to provide for adequate reporting of information to the Secretary for