Melissa Wiley Addresses How to Avoid and Defend Against Penalties at AICPA National Tax Conference

11.15.2021

Avoiding and Defending Against Penalties - Part 1 - 9:55 AM

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.

Learning Objectives:

  • Identify the situations that give rise to various taxpayer penalties
  • Understand how the IRS assesses different penalties and how they can be challenge

Avoiding and Defending Against Penalties - Part 2 -11:00 AM

Building on the prior session, this panel will discuss the various voluntary disclosure programs available to taxpayers who wish to remedy prior omissions while minimizing penalty exposure.  The panelists will also review accuracy-related penalties, preparer penalties and other "miscellaneous" penalties such as those imposed for erroneous refund claims.  Lastly, the session will cover best practices for documenting facts and tax positions to put you and your clients in the best position to defend against potential penalties. 

Learning Objectives:

  • Identify the voluntary disclosure programs that may be used to avoid penalties
  • Describe other common (and less common) penalties assessed by the IRS
  • Understand how contemporaneous documentation can help tax practitioners and clients defend against penalties

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