Friday 05/20/2016

IRS Issues Penalties in Error

Kelly Linden, CPA gives a quick update on the IRS’s erroneous penalties:

 

 

The IRS announced that it’s working to resolve an error in which taxpayers that made payroll deposits after April 15th, 2016 but before April 18th, 2016 were issued failure-to-deposit penalties.

Because the deadline for employers to make payroll tax deposits was extended this year due to a legal holiday in the District of Columbia, a glitch caused some taxpayers to be incorrectly issued a penalty.

At this time, taxpayers need not take action. Anyone affected will receive a letter from the IRS when the issue has been resolved. If you have specific questions about your payroll taxes please contact me.

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