Reportable Transactions Resources
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| Natural persons who fail to disclose a reportable transaction to the IRS are subject to a $10,000 penalty. Other nonreporting taxpayers are subject to a $50,000 penalty. The penalties are increased to $100,000 and $200,000, respectively, for natural persons and other taxpayers who fail to disclose a reportable transaction that is a listed transaction |
The IRS Says:
| You may think the IRS can't or won't levy retirement funds. People hope that when they get old, the IRS will forget about them and how much they might owe. But the IRS leaves no stone unturned in its never-ending quest to collect all taxes, penalties and interest. |
| 516 - 935 - 7346 |
| Imagine Having the IRS Attack Your Pension, Retirement or Social Security Check! |
| Hot Links at your disposal: Find much more information and articles about the perils of reportable transactions at these websites: ListedTransactions TaxAudit419.com TaxAdvisorExperts.com TaxLibrary.us irsform8886 irs6707Apenalty section79plans lawyer4audits |
| Do your research through articles written by experts on this subject |