IRS practice unit: Penalty for failure to include reportable transaction information

IRS practice unit concerning a penalty for failure to include reportable transaction information

Concerning a penalty for failure to include reportable transaction information

The IRS Large Business and International (LB&I) division publicly released a “practice unit”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.

The title of the “process unit” (as referred to by the IRS) is: Penalty for failure to include reportable transaction information with return

Read the practice unit on the IRS practice unit webpage (posting date of August 4, 2021).

 

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