CP276B – Accuracy of Deposits Questioned

Low: Federal Tax Deposit Issue

What It Means:

The IRS sends a CP276B notice when a business has failed to either make a federal tax deposit on time or the amount is incorrect. Although the IRS typically assesses a penalty fee for this type of error, in this case, they are simply issuing a warning.

Next Steps:

Thoroughly review your CP276B notice and check your tax records to determine where the error was made.

You should also:

Review the IRS instructions for depositing and reporting employment taxes.
Verify your current tax deposits are correct.
Adjust payroll processes to avoid future mistakes.

Remember, CP276B serves as a reminder by the IRS to get your federal tax deposits back into compliance. Failure to do so may result in penalty fees for any future deposits that are late or incorrect.

Need Help?

Call 855-774-0271 or complete our online form to schedule a Free Consultation with one of our tax specialists.