News / Article

IRS Mistakenly Sent Penalty Notices To Businesses Claiming COVID-Related Tax Credits

Source: forbes.com - Aug 27, 2020

Did you recently receive a penalty notice for your payroll tax deposit even though you remitted the correct amount?

You’re not alone. The Internal Revenue Service (IRS) has announced that a “small population of employers” may have received notice that they were being assessed a failure to deposit penalty - even though the penalty doesn’t apply.

Here’s how that happened.

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Category: General Business