This session will examine a wide variety of civil and even criminal penalties that can be imposed upon taxpayers and their advisors in the context of income and transfer taxes, how to mitigate the risk of the imposition of these penalties and the various defenses available when such penalties are sought by the Service. Among the penalties that will be discussed are those imposed for the failure to file tax returns, the failure to pay tax when due, negligence, substantial understatements of valuation or tax liabilities, and fraud, as well as the penalties that can be imposed upon return preparers and appraisers.
Farhad Aghdami, Richmond, VA
M. Patricia Culler, Cleveland, OH
Nancy G. Henderson, San Diego, CA
ACTEC 2016 Annual Meeting
March 17 & 18, 2016
Las Vegas, NV