Emancipation Day 2016 Causes the IRS to Erroneously Assess Payroll Tax Deposit Penalties

Posted on June 01, 2016

The IRS recently announced that it erroneously assessed payroll tax penalties, even though the federal tax deposits were made by the April 18, 2016, deadline. Because Emancipation Day in 2016 fell on April 18 instead of April 15, failure to deposit penalties were assessed against some taxpayers due to an IRS programming error. The IRS said it is working to correct the erroneous penalty assessments.

Did the IRS assess a failure to deposit penalty against your business even though it made its federal tax deposits by April18, 2016? Contact us, we can help.