IRS to Correct Failure-to-Deposit Penalties

May 25, 2016

The IRS has announced that it is working to correct erroneous failure-to-file penalty notices triggered by a programming error. The error caused some monthly and daily deposits of payroll taxes that were made timely by April 18, but after April 15, to be considered as paid late even though April 15 was a federally observed legal holiday in the District of Columbia (Emancipation Day).

Erroneous failure-to-deposit penalties will be remedied. the IRS says that, in some instances, taxpayers were assessed failure-to-deposit penalties as a result of a programming error that treated some monthly and daily deposits of payroll taxes that were made timely by April 18, but after April 15, as paid late. The IRS says it is working to resolve the issue and correct the erroneous penalty assessments in the near future. No taxpayer action is required at this time. Those affected will receive correspondence when the issue is resolved.

If you have questions regarding the penalty notices, BiggsKofford is here to help. Call us at 719-579-9090 or send us an email to info@biggskofford.com.

Share
 
Our Location

Our Location

BiggsKofford
630 Southpointe Ct, #200
Colorado Springs, CO 80906

P: (719) 579-9090 | F: (719) 576-0126
info@biggskofford.com

Read More