The Nuts and Bolts of Tax Penalties: Analyzing Types of Penalties, Potential Defenses, and Procedures for Challenging Them

This program, presented by Megan Brackney of Kostelanetz & Fink, will discuss tax penalties assessed against taxpayers, defenses to penalties, and the procedures for challenging penalties. The course will discuss common penalties, such as failure to file and failure to pay, accuracy, and fraud penalties, as well as other penalties that the IRS is using more frequently as part of enforcement initiatives, such as trust fund recovery penalties and penalties for failure to report foreign assets. 

Learning Objectives:

1. Gain an understanding of several types of tax penalties that apply to taxpayers

2. Identify the potential defenses to penalties, including the meaning of "reasonable causes"

3. Review the procedures for challenging penalties