In the current environment of increased IRS enforcement and administrative delays, learning how to avoid and defend against penalties has become more important than ever. This session will cover a myriad of late filing, payment and deposit penalties, including those that apply to international information returns. The panelist will discuss the basics of when penalties apply and will highlight avenues for resolution and what tax practitioners can do to keep their clients out of IRS Collections.
Identify the situations that give rise to various taxpayer penalties
Understand how the IRS assesses different penalties and how they can be challenged