Knowing how the IRS operates, and how and why the IRS audits certain returns, is extremely important to tax practitioners. There are many tax penalties that apply to taxpayers and tax preparers, explain the following penalties:

Failure to File

Failure to Pay

Accuracy-Related Penalty

Fraud Penalty

You can use thewebsite or your textbooks from AC256 and AC430 as references. Additionally, any scholarly, peer-reviewed journal article or source is acceptable as reference material.

Good Evening Class,

Failure to file isIf a return is not timely filed, (by April 15thof the current year) IRC 6651(a)(1) provides for a penalty of 5% if the failure is for not more than one month, with an additional 5% for each month or fraction thereof during which the failure continues, but not in...