Were your taxes erroneously treated as late by the IRS? Due to the observed holiday on April 15, 2016, (Washington DC Emancipation Day), this year’s deposits were not due until April 18, 2016. However, the IRS recently identified a programming error causing deposits made after April 15, 2016 to be considered late even though they were made timely by April 18, 2016. As a result, some taxpayers were given failure to deposit penalties. 

Don’t fret! The IRS is working to resolve the issue and correct the incorrect penalty assessments in the near future. Those affected will receive correspondence when the issue is resolved and no further action is required by taxpayers.  If you have questions about failure to deposit penalties, please contact our office at 703.385.8888 or info@tgccpa.com.

© 2016