IRS announced today that a software error is causing some small business taxpayers to receive a tax penalty notice for late filing and payment of second quarter payroll taxes. IRS is working to resolve the issue and it will correct the erroneous penalty assessments in the near future. Those affected will receive correspondence when the issue is resolved. No other action is required at this time.
These penalty letters are distressing for some taxpayers and I am available to discuss the issue with affected businesses.