Megan L. Brackney participated in the panel "Now That’s Aggressive: Reportable Transaction Penalties" at the 2018 Practising Law Institute (PLI)

The number of accuracy-related penalties assessed against individual taxpayers increased from 58,366 in 2005 to 499,190 in 2016. That is nearly a 900% increase over the past decade! Are there more bad taxpayers? Or, is the IRS just getting more aggressive about asserting penalties?

This panel discussed what triggers a penalty assessment and how to protect their clients and themselves against such assessments.