dreamproit/uscode huggingface dataset:
26 U.S.C. § 6689 (INTERNAL REVENUE CODE)
§ 6689. Failure to file notice of redetermination of foreign tax
(a) Civil penalty
If the taxpayer fails to notify the Secretary (on or before the date prescribed by regulations for giving such notice) of a foreign tax redetermination, unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the deficiency attributable to such redetermination an amount (not in excess of 25 percent of the deficiency) determined as follows—
(1) 5 percent of the deficiency if the failure is for not more than 1 month, with
(2) an additional 5 percent of the deficiency for each month (or fraction thereof) during which the failure continues.
(b) Foreign tax redetermination defined
For purposes of this section, the term “foreign tax redetermination” means any redetermination for which a notice is required under subsection (c) of section 905 or paragraph (2) of section 404A(g).
(Added Pub. L. 96–603, § 2(c)(2), Dec. 28, 1980, 94 Stat. 3509.)
heading: Prior Provisions
text: A prior section 6689, added Pub. L. 93–17, § 3(d)(2), Apr. 10, 1973, 87 Stat. 16, related to failure by certain foreign issuers and obligors to comply with United States investment equalization tax requirements, prior to repeal by Pub. L. 94–455, title XIX, § 1904(b)(10)(E)(i), Oct. 4, 1976, 90 Stat. 1817.
heading: Effective Date
text: For applicability of section with respect to employer contributions or accruals for taxable years beginning after Dec. 31, 1979, election to apply amendments retroactively with respect to foreign subsidiaries, allowance of prior deductions in case of certain funded branch plans, and time and manner for making elections, see section 2(e) of Pub. L. 96–603, set out as a note under section 404A of this title.
26 U.S.C. § 6690 (INTERNAL REVENUE CODE)
§ 6690. Fraudulent statement or failure to furnish statement to plan participant
Any person required under section 6057(e) to furnish a statement to a participant who willfully furnishes a false or fraudulent statement, or who willfully fails to furnish a statement in the manner, at the time, and showing the information required under section 6057(e), or regulations prescribed thereunder, shall for each such act, or for each such failure, be subject to a penalty under this subchapter of $50, which shall be assessed and collected in the same manner as the tax on employers imposed by section 3111.
(Added Pub. L. 93–406, title II, § 1031(b)(2)(A), Sept. 2, 1974, 88 Stat. 946.)
heading: Effective Date
text: Section effective Sept. 2, 1974, see section 1034 of Pub. L. 93–406, set out as a note under section 6057 of this title.
26 U.S.C. § 6692 (INTERNAL REVENUE CODE)
§ 6692. Failure to file actuarial report
The plan administrator (as defined in section 414(g)) of each defined benefit plan to which section 412 applies who fails to file the report required by section 6059 at the time and in the manner required by section 6059, shall pay a penalty of $1,000 for each such failure unless it is shown that such failure is due to reasonable cause.
(Added Pub. L. 93–406, title II, § 1033(b), Sept. 2, 1974, 88 Stat. 948.)
heading: Effective Date
text: Section effective Sept. 2, 1974, see section 1034 of Pub. L. 93–406, set out as a note under section 6057 of this title.
26 U.S.C. § 6695A (INTERNAL REVENUE CODE)
§ 6695A. Substantial and gross valuation misstatements attributable to incorrect appraisals
(a) Imposition of penalty
If—
(1) a person prepares an appraisal of the value of property and such person knows, or reasonably should have known, that the appraisal would be used in connection with a return or a claim for refund, and
(2) the claimed value of the property on a return or claim for refund which is based on such appraisal results in a substantial valuation misstatement under chapter 1 (within the meaning of section 6662(e)), a substantial estate or gift tax valuation understatement (within the meaning of section 6662(g)), or a gross valuation misstatement (within the meaning of section 6662(h)), with respect to such property,
then such person shall pay a penalty in the amount determined under subsection (b).
(b) Amount of penalty
The amount of the penalty imposed under subsection (a) on any person with respect to an appraisal shall be equal to the lesser of—
(1) the greater of—
(A) 10 percent of the amount of the underpayment (as defined in section 6664(a)) attributable to the misstatement described in subsection (a)(2), or
(B) $1,000, or
(2) 125 percent of the gross income received by the person described in subsection (a)(1) from the preparation of the appraisal.
(c) Exception
No penalty shall be imposed under subsection (a) if the person establishes to the satisfaction of the Secretary that the value established in the appraisal was more likely than not the proper value.
(Added Pub. L. 109–280, title XII, § 1219(b)(1), Aug. 17, 2006, 120 Stat. 1084; amended Pub. L. 110–172, §§ 3(e)(1), 11(a)(40), Dec. 29, 2007, 121 Stat. 2474, 2488.)
heading: Codification
text: Section 1219(b)(1) of Pub. L. 109–280, which directed the addition of section 6695A at the end of part I of subchapter B of chapter 68, without specifying the act to be amended, was executed by adding section 6695A at the end of part I of subchapter B of chapter 68 of this title, which consists of the Internal Revenue Code of 1986, to reflect the probable intent of Congress.
heading: Amendments
text: 2007—Subsec. (a). Pub. L. 110–172, § 11(a)(40), designated the words “then such person shall pay a penalty in the amount determined under subsection (b).”, appearing in par. (2), as concluding provisions of subsec. (a).
Subsec. (a)(2). Pub. L. 110–172, § 3(e)(1), inserted “a substantial estate or gift tax valuation understatement (within the meaning of section 6662(g)),” before “or a gross valuation misstatement”.
heading: Effective Date of 2007 Amendment
text: Amendment by section 3(e)(1) of Pub. L. 110–172 effective as if included in the provisions of the Pension Protection Act of 2006, Pub. L. 109–280, to which such amendment relates, see section 3(j) of Pub. L. 110–172, set out as a note under section 170 of this title.
heading: Effective Date
text: Section applicable to appraisals prepared with respect to returns or submissions filed after Aug. 17, 2006, with special rule for certain easements, see section 1219(e)(2), (3) of Pub. L. 109–280, set out as an Effective Date of 2006 Amendments note under section 170 of this title.
26 U.S.C. § 6697 (INTERNAL REVENUE CODE)
[§ 6697. Repealed. Pub. L. 111–325, title V, § 501(a), Dec. 22, 2010, 124 Stat. 3554]
text: Section, added Pub. L. 94–455, title XVI, § 1601(b)(1), Oct. 4, 1976, 90 Stat. 1745; amended Pub. L. 95–600, title III, § 362(b), Nov. 6, 1978, 92 Stat. 2851; Pub. L. 99–514, title VI, § 667(a), Oct. 22, 1986, 100 Stat. 2305, related to assessable penalties with respect to liability for tax of regulated investment companies.
heading: Effective Date of Repeal
text: Repeal applicable to taxable years beginning after Dec. 22, 2010, see section 501(c) of Pub. L. 111–325, set out as an Effective Date of 2010 Amendment note under section 860 of this title.
26 U.S.C. § 6698A (INTERNAL REVENUE CODE)
[§ 6698A. Repealed. Pub. L. 96–223, title IV, § 401(a), Apr. 2, 1980, 94 Stat. 299]
text: Section, added Pub. L. 94–455, title XX, § 2005(d)(2), Oct. 4, 1976, 90 Stat. 1878, § 6694; renumbered § 6698 and amended Pub. L. 95–600, title VII, § 702(r)(1)(A), (B), Nov. 6, 1978, 92 Stat. 2938; renumbered § 6698A, Pub. L. 96–222, title I, § 107(a)(2)(D), Apr. 1, 1980, 94 Stat. 223, related to failure of an executor to file information with respect to carryover basis property. Repeal was achieved by repealing section 2005(d)(2) of Pub. L. 94–455 and section 702(r)(1)(A), (B) of Pub. L. 95–600 and the amendments made by those sections.
heading: Effective Date of Repeal and Revival of Prior Law
text: Repeal applicable in respect of decedents dying after Dec. 31, 1976, and, except for certain elections, this title to be applied and administered as if this section had not been enacted, see section 401(b), (e) of Pub. L. 96–223, set out as an Effective Date of 1980 Amendment and Revival of Prior Law note under section 1023 of this title.
26 U.S.C. § 6704 (INTERNAL REVENUE CODE)
§ 6704. Failure to keep records necessary to meet reporting requirements under section 6047(d)
(a) Liability for penalty
Any person who—
(1) has a duty to report or may have a duty to report any information under section 6047(d), and
(2) fails to keep such records as may be required by regulations prescribed under section 6047(d) for the purpose of providing the necessary data base for either current reporting or future reporting,
shall pay a penalty for each calendar year for which there is any failure to keep such records.
(b) Amount of penalty
(1) In general
The penalty of any person for any calendar year shall be $50, multiplied by the number of individuals with respect to whom such failure occurs in such year.
(2) Maximum amount
The penalty under this section of any person for any calendar year shall not exceed $50,000.
(c) Exceptions
(1) Reasonable cause
No penalty shall be imposed by this section on any person for any failure which is shown to be due to reasonable cause and not to willful neglect.
(2) Inability to correct previous failure
No penalty shall be imposed by this section on any failure by a person if such failure is attributable to a prior failure which has been penalized under this section and with respect to which the person has made all reasonable efforts to correct the failure.
(3) Pre-1983 failures
No penalty shall be imposed by this section on any person for any failure which is attributable to a failure occurring before January 1, 1983, if the person has made all reasonable efforts to correct such pre-1983 failure.
(Added Pub. L. 97–248, title III, § 334(c)(1), Sept. 3, 1982, 96 Stat. 627; amended Pub. L. 99–514, title XVIII, § 1848(e)(1), Oct. 22, 1986, 100 Stat. 2857.)
heading: Amendments
text: 1986—Pub. L. 99–514 substituted “section 6047(d)” for “section 6047(e)” in section catchline and in subsec. (a).
heading: Effective Date of 1986 Amendment
text: Amendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
heading: Effective Date
text: Section effective Jan. 1, 1985, see section 334(e)(3) of Pub. L. 97–248, set out as a note under section 3405 of this title.
heading: Plan Amendments Not Required Until January 1, 1989
text: For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
26 U.S.C. § 6705 (INTERNAL REVENUE CODE)
§ 6705. Failure by broker to provide notice to payors
(a) In general
Any person required under section 3406(d)(2)(B) to provide notice to any payor who willfully fails to provide such notice to such payor shall pay a penalty of $500 for each such failure.
(b) Penalty in addition to other penalties
Any penalty imposed by this section shall be in addition to any other penalty provided by law.
(Added Pub. L. 98–67, title I, § 104(c)(1), Aug. 5, 1983, 97 Stat. 379.)
heading: Effective Date
text: Section effective with respect to payments made after Dec. 31, 1983, see section 110(a) of Pub. L. 98–67, set out as an Effective Date of 1983 Amendment note under section 31 of this title.
26 U.S.C. § 6706 (INTERNAL REVENUE CODE)
§ 6706. Original issue discount information requirements
(a) Failure to show information on debt instrument
In the case of a failure to set forth on a debt instrument the information required to be set forth on such instrument under section 1275(c)(1), unless it is shown that such failure is due to reasonable cause and not to willful neglect, the issuer shall pay a penalty of $50 for each instrument with respect to which such a failure exists.
(b) Failure to furnish information to Secretary
Any issuer who fails to furnish information required under section 1275(c)(2) with respect to any issue of debt instruments on the date prescribed therefor (determined with regard to any extension of time for filing) shall pay a penalty equal to 1 percent of the aggregate issue price of such issue, unless it is shown that such failure is due to reasonable cause and not willful neglect. The amount of the penalty imposed under the preceding sentence with respect to any issue of debt instruments shall not exceed $50,000 for such issue.
(c) Deficiency procedures not to apply
Subchapter B of chapter 63 (relating to deficiency procedures for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by this section.
(Added Pub. L. 98–369, div. A, title I, § 41(c)(1), July 18, 1984, 98 Stat. 555.)
heading: Effective Date
text: Section effective on day 30 days after July 18, 1984, see section 44(h) of Pub. L. 98–369, set out as a note under section 1271 of this title.
26 U.S.C. § 6708 (INTERNAL REVENUE CODE)
§ 6708. Failure to maintain lists of advisees with respect to reportable transactions
(a) Imposition of penalty
(1) In general
If any person who is required to maintain a list under section 6112(a) fails to make such list available upon written request to the Secretary in accordance with section 6112(b) within 20 business days after the date of such request, such person shall pay a penalty of $10,000 for each day of such failure after such 20th day.
(2) Reasonable cause exception
No penalty shall be imposed by paragraph (1) with respect to the failure on any day if such failure is due to reasonable cause.
(b) Penalty in addition to other penalties
The penalty imposed by this section shall be in addition to any other penalty provided by law.
(Added Pub. L. 98–369, div. A, title I, § 142(b), July 18, 1984, 98 Stat. 682; amended Pub. L. 99–514, title XV, § 1534(a), Oct. 22, 1986, 100 Stat. 2750; Pub. L. 108–357, title VIII, §§ 815(b)(5)(A), 817(a), Oct. 22, 2004, 118 Stat. 1583, 1584.)
heading: Codification
text: Another section 6708 was renumbered section 6709 of this title.
heading: Amendments
text: 2004—Pub. L. 108–357, § 815(b)(5)(A), substituted “advisees with respect to reportable transactions” for “investors in potentially abusive tax shelters” in section catchline.
Subsec. (a). Pub. L. 108–357, § 817(a), amended heading and text of subsec. (a) generally. Prior to amendment, text read as follows: “Any person who fails to meet any requirement imposed by section 6112 shall pay a penalty of $50 for each person with respect to whom there is such a failure, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The maximum penalty imposed under this subsection for any calendar year shall not exceed $100,000.”
1986—Subsec. (a). Pub. L. 99–514 substituted “$100,000” for “$50,000”.
heading: Effective Date of 2004 Amendment
text: Amendment by section 815(b)(5)(A) of Pub. L. 108–357 applicable to transactions with respect to which material aid, assistance, or advice referred to in section 6111(b)(1)(A)(i) of this title is provided after Oct. 22, 2004, see section 815(c) of Pub. L. 108–357, set out as a note under section 6111 of this title.
Pub. L. 108–357, title VIII, § 817(b), Oct. 22, 2004, 118 Stat. 1584, provided that: “The amendment made by this section [amending this section] shall apply to requests made after the date of the enactment of this Act [Oct. 22, 2004].”
heading: Effective Date of 1986 Amendment
text: Pub. L. 99–514, title XV, § 1534(b), Oct. 22, 1986, 100 Stat. 2750, provided that: “The amendments made by this section [amending this section] shall apply to failures occurring or continuing after the date of the enactment of this Act [Oct. 22, 1986].”
heading: Effective Date
text: Section applicable to any interest which is first sold to any investor after Aug. 31, 1984, see section 142(d) of Pub. L. 98–369, set out as a note under section 6112 of this title.
26 U.S.C. § 6709 (INTERNAL REVENUE CODE)
§ 6709. Penalties with respect to mortgage credit certificates
(a) Negligence
If—
(1) any person makes a material misstatement in any verified written statement made under penalties of perjury with respect to the issuance of a mortgage credit certificate, and
(2) such misstatement is due to the negligence of such person,
such person shall pay a penalty of $1,000 for each mortgage credit certificate with respect to which such a misstatement was made.
(b) Fraud
If a misstatement described in subsection (a)(1) is due to fraud on the part of the person making such misstatement, in addition to any criminal penalty, such person shall pay a penalty of $10,000 for each mortgage credit certificate with respect to which such a misstatement is made.
(c) Reports
Any person required by section 25(g) to file a report with the Secretary who fails to file the report with respect to any mortgage credit certificate at the time and in the manner required by the Secretary shall pay a penalty of $200 for such failure unless it is shown that such failure is due to reasonable cause and not to willful neglect. In the case of any report required under the second sentence of section 25(g), the aggregate amount of the penalty imposed by the preceding sentence shall not exceed $2,000.
(d) Mortgage credit certificate
The term “mortgage credit certificate” has the meaning given to such term by section 25(c).
(Added Pub. L. 98–369, div. A, title VI, § 612(d)(1), July 18, 1984, 98 Stat. 912, § 6708; renumbered § 6709, Pub. L. 99–514, title XVIII, § 1862(d)(2), Oct. 22, 1986, 100 Stat. 2884.)
heading: Effective Date of 1986 Amendment
text: Amendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
heading: Effective Date
text: Section applicable to interest paid or accrued after Dec. 31, 1984, on indebtedness incurred after Dec. 31, 1984, see section 612(g) of Pub. L. 98–369, set out as a note under section 25 of this title.
26 U.S.C. § 6710 (INTERNAL REVENUE CODE)
§ 6710. Failure to disclose that contributions are nondeductible
(a) Imposition of penalty
If there is a failure to meet the requirement of section 6113 with respect to a fundraising solicitation by (or on behalf of) an organization to which section 6113 applies, such organization shall pay a penalty of $1,000 for each day on which such a failure occurred. The maximum penalty imposed under this subsection on failures by any organization during any calendar year shall not exceed $10,000.
(b) Reasonable cause exception
No penalty shall be imposed under this section with respect to any failure if it is shown that such failure is due to reasonable cause.
(c) $10,000 limitation not to apply where intentional disregard
If any failure to which subsection (a) applies is due to intentional disregard of the requirement of section 6113—
(1) the penalty under subsection (a) for the day on which such failure occurred shall be the greater of—
(A) $1,000, or
(B) 50 percent of the aggregate cost of the solicitations which occurred on such day and with respect to which there was such a failure,
(2) the $10,000 limitation of subsection (a) shall not apply to any penalty under subsection (a) for the day on which such failure occurred, and
(3) such penalty shall not be taken into account in applying such limitation to other penalties under subsection (a).
(d) Day on which failure occurs
For purposes of this section, any failure to meet the requirement of section 6113 with respect to a solicitation—
(1) by television or radio, shall be treated as occurring when the solicitation was telecast or broadcast,
(2) by mail, shall be treated as occurring when the solicitation was mailed,
(3) not by mail but in written or printed form, shall be treated as occurring when the solicitation was distributed, or
(4) by telephone, shall be treated as occurring when the solicitation was made.
(Added Pub. L. 100–203, title X, § 10701(b), Dec. 22, 1987, 101 Stat. 1330–458.)
heading: Effective Date
text: Section applicable to solicitations after Jan. 31, 1988, see section 10701(d) of Pub. L. 100–203, set out as a note under section 6113 of this title.
26 U.S.C. § 6711 (INTERNAL REVENUE CODE)
§ 6711. Failure by tax-exempt organization to disclose that certain information or service available from Federal Government
(a) Imposition of penalty
If—
(1) a tax-exempt organization offers to sell (or solicits money for) specific information or a routine service for any individual which could be readily obtained by such individual free of charge (or for a nominal charge) from an agency of the Federal Government,
(2) the tax-exempt organization, when making such offer or solicitation, fails to make an express statement (in a conspicuous and easily recognizable format) that the information or service can be so obtained, and
(3) such failure is due to intentional disregard of the requirements of this subsection,
such organization shall pay a penalty determined under subsection (b) for each day on which such a failure occurred.
(b) Amount of penalty
The penalty under subsection (a) for any day on which a failure referred to in such subsection occurred shall be the greater of—
(1) $1,000, or
(2) 50 percent of the aggregate cost of the offers and solicitations referred to in subsection (a)(1) which occurred on such day and with respect to which there was such a failure.
(c) Definitions
For purposes of this section—
(1) Tax-exempt organization
The term “tax-exempt organization” means any organization which—
(A) is described in subsection (c) or (d) of section 501 and exempt from taxation under section 501(a), or
(B) is a political organization (as defined in section 527(e)).
(2) Day on which failure occurs
The day on which any failure referred to in subsection (a) occurs shall be determined under rules similar to the rules of section 6710(d).
(Added Pub. L. 100–203, title X, § 10705(a), Dec. 22, 1987, 101 Stat. 1330–463.)
heading: Effective Date
text: Pub. L. 100–203, title X, § 10705(c), Dec. 22, 1987, 101 Stat. 1330–464, provided that: “The amendments made by this section [enacting this section] shall apply to offers and solicitations after January 31, 1988.”
26 U.S.C. § 6712 (INTERNAL REVENUE CODE)
§ 6712. Failure to disclose treaty-based return positions
(a) General rule
If a taxpayer fails to meet the requirements of section 6114, there is hereby imposed a penalty equal to $1,000 ($10,000 in the case of a C corporation) on each such failure.
(b) Authority to waive
The Secretary may waive all or any part of the penalty provided by this section on a showing by the taxpayer that there was reasonable cause for the failure and that the taxpayer acted in good faith.
(c) Penalty in addition to other penalties
The penalty imposed by this section shall be in addition to any other penalty imposed by law.
(Added Pub. L. 100–647, title I, § 1012(aa)(5)(B), Nov. 10, 1988, 102 Stat. 3532.)
heading: Codification
text: Another section 6712 was renumbered section 6713 of this title.
heading: Effective Date
text: Section applicable to taxable periods the due date for filing returns for which (without extension) occurs after Dec. 31, 1988, see section 1012(aa)(5)(D) of Pub. L. 100–647, set out as a note under section 6114 of this title.