<p>IRS Issues Practice Unit on Reportable Transactions Penalty</p>

IRS Issues Practice Unit on Reportable Transactions Penalty

Internal Revenue Service

The IRS has issued a practice unit on the penalty imposed by section 6707A on taxpayers who fail to disclose any reportable transactions information that is required under section 6011 to be included on a return or statement.

<p>The IRS has issued a practice unit on the penalty imposed by section 6707A on taxpayers who fail to disclose any reportable transactions information that is required under section 6011 to be included on a return or statement.</p>