In a TaxNotes article entitled, “Practitioners Fault Accelerated Assessable Penalty Collection,” Megan Brackney is quoted on how “the IRS’s collections practice for assessable penalties related to foreign information returns is increasingly placing taxpayers in a bind, and practitioners are eager to provide suggestions on how the process can be improved.”
The article notes, “Megan Brackney of Kostelanetz & Fink LLP, who addressed the issue of foreign information return penalties and collections in a series of Procedurally Taxing blog posts in January, told Tax Notes that while enforcement has increased over the last two or three years, collection activity has sped up only within the last year. Now, not only are there fewer notices, but sometimes notices for demand and payment come in before a taxpayer’s time to appeal has expired, she said.”
Read the full article here.
