The National Directory of Certified Public Accountants

Ask A CPA - 2016 Tax Law Changes

Inflation-Adjusted Civil Penalties

The following penalties will be adjusted for inflation after 2016: The return preparer penalty; The penalty for failure to file a tax return or pay tax; The penalty for failure to file certain information returns; The penalty for failure to file a partnership return; The penalty for failure to file an S corporation return; The penalty for failure to file correct information returns; The penalty for failure to furnish correct payee statements.

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