IRS Accountability and Taxpayer Protection Act

This bill requires IRS supervisors to provide written approval before applying penalties or disallowance periods to taxpayers, mandating that approval occur before any penalty notice is sent. It defines an "initial determination" as a specific written notice detailing the exact penalty amount or disallowance period, excluding general inquiries. The bill also mandates annual IRS reports on all penalties assessed, broken down by IRS unit and process step. It directly affects taxpayers facing penalties for tax credits under Sections 24, 25A, or 32, and requires the IRS to publicly report penalty data starting 24 months after enactment.