The American Institute of CPAs is asking the Internal Revenue Service to reconsider some of its proposed monetary penalties for misbehaving practitioners and firms.
The AICPA sent comments to the acting IRS commissioner recommending changes in the IRS's proposed guidance for monetary penalties under Circular 230. The institute is asking for the IRS to consider additional factors in determining whether a monetary penalty is appropriate in a given situation, including the extent to which a monetary penalty might be disproportionate to the conduct.
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