A Different Kind of Fresh Start: Collections and Penalties Under the TAS Act

Frost Law attorneys Rebecca Sheppard, Esq., and Peter Haukebo, Esq., join ALFi for a webinar on proposed changes to IRS collections and penalty relief under the TAS Act. Terry Lemons moderates.

The proposed legislation would automate refund offset bypass, remove installment agreement fees for certain individuals, and require the IRS to notify taxpayers in hardship of available collection alternatives. A package of offer-in-compromise reforms would streamline Chief Counsel review, create a right to appeal a returned offer, and refund amounts collected beyond an accepted offer. The bill would also extend the window for taxpayers to recover wrongfully levied property.

On the penalty side, the session covers the proposed rewrite of § 6751(b) supervisory approval requirements and a new failure-to-pay safe harbor for individuals who pay 125% of their prior year's liability on time.

Attendees leave able to identify which clients these provisions would help and how the § 6751(b) changes affect penalty defense.