Sec. 6707A penalties updated.

• Author: Josephs, Stuart R.
• Position: IRSNEWS - Brief article

The IRS has suspended collection enforcement action through Dec. 31 on IRC Sec. 6707A penalties regarding listed transactions where the annual tax benefit from the transaction is less than $ 100,000 for individuals and $200,000 for other taxpayers--since legislation is pending that will modify these penalties.

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