Course Information

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Recent Tax Penalties
Author: Sidney Kess and Barbara Weltman

Description:

There are numerous tax penalties in the law and we will not cover them all. We would like to concentrate of those penalties that have been created or increased in recent years under numerous tax acts, usually as a way to close a revenue gap or punish certain behavior. Often, these changes can get lost in the shuffle and we want to be sure that they are not overlooked.

We will explain these recent changes and their effective dates. While penalties may not be the most exciting part of tax law, they are certainly very important and can be quite costly for affected taxpayers. It is important to remember that tax penalties are not deductible by individuals or businesses.

Upon completion, participants will be able to:

  • List the increased penalties for failing to file information returns.
  • Cite the penalties on both individuals and large employers with respect to mandatory health coverage under the Patient Protection and Affordable Care Act.
  • Identify what constitutes a “frivolous tax submission.”
Course Details:
Price:  $34.00
Field of Study:  Taxes
Prerequisites:  Basic understanding of Federal tax law
Level:  Overview
CTEC course number:  1075-CE-9787
Course was last updated on:  02/07/2011
Library:
Learning Center Core

Technical Requirements:
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Credit Available For: Units
CPE 2.00 CPE
CTEC Federal 2.00 CE
Enrolled Agent (Accepted by the IRS) 2.00 CPE
QAS 2.00 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.