A recent IRS error has resulted in the distribution of incorrect notices to taxpayers. These notices reflect a late payment for the second quarter 2016 Form 941 – Employer’s Quarterly Federal Tax Return.
The IRS failed to extend payment due dates to account for the Memorial Day holiday. Any business with a semi-weekly liability paid on June 2, 2016, for the tax period ending May 27, 2016, may receive a notice. In addition, any client with a $100K liability paid on May 31, 2016, for the tax period ending May 27, 2016, may receive a notice.
Notices are dated August 8, so affected businesses may receive them in the mail in the next few days. According to the IRS, impacted taxpayer accounts will be corrected without the taxpayers taking any action. If you have further questions about this situation, please give us a call.