Source: https://www.law.cornell.edu/uscode/text/26/6662A
Timestamp: 2016-07-26 22:33:21
Document Index: 105583004

Matched Legal Cases: ['§\u202f6662', '§\u202f812', '§\u202f403', '§\u202f1409', '§\u202f220', '§\u202f2103']

§ 6662A.
Imposition of accuracy-related penalty on understatements with respect to reportable transactions
(b) Reportable transaction understatementFor purposes of this section—
(1) In generalThe term “reportable transaction understatement” means the sum of—
(2) Items to which section appliesThis section shall apply to any item which is attributable to—
Subsection (a) shall be applied by substituting “30 percent” for “20 percent” with respect to the portion of any reportable transaction understatement with respect to which the requirement of section 6664(d)(3)(A) is not met.
(1) Coordination with penalties, etc., on other understatementsIn the case of an understatement (as defined in section 6662(d)(2))—
the amount of such understatement (determined without regard to this paragraph) shall be increased by the aggregate amount of reportable transaction understatements for purposes of determining whether such understatement is a substantial understatement under section 6662(d)(1), and
the addition to tax under section 6662(a) shall apply only to the excess of the amount of the substantial understatement (if any) after the application of subparagraph (A) over the aggregate amount of reportable transaction understatements.
(Added Pub. L. 108–357, title VIII, § 812(a), Oct. 22, 2004, 118 Stat. 1577; amended Pub. L. 109–135, title IV, § 403(x)(2), Dec. 21, 2005, 119 Stat. 2629; Pub. L. 111–152, title I, § 1409(b)(3), Mar. 30, 2010, 124 Stat. 1069; Pub. L. 113–295, div. A, title II, § 220(w), Dec. 19, 2014, 128 Stat. 4036.)
2014—Subsec. (c). Pub. L. 113–295 substituted “section 6664(d)(3)(A)” for “section 6664(d)(2)(A)”.
Pub. L. 111–240, title II, § 2103, Sept. 27, 2010, 124 Stat. 2564, provided that:
“(a)In General.—The Commissioner of Internal Revenue, in consultation with the Secretary of the Treasury, shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate an annual report on the penalties assessed by the Internal Revenue Service during the preceding year under each of the following provisions of the Internal Revenue Code of 1986:
“(b)Additional Information.—The report required under subsection (a) shall also include information on the following with respect to each year:
“(c)Date of Report.—
The first report required under subsection (a) shall be submitted not later than December 31, 2010.”
We truncate results at 20000 items. After that, you're on your own. Penalties : 2014-06-06
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2014-06-06
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2012-05-25
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2010-10-29
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2010-10-15
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2010-10-08
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2010-10-01
Penalty for Failure to Include Reportable Transaction Information with Return : 2010-10-01
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2010-04-02
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2009-11-06
Accuracy Related Penalty on Understatements with respect to Reportable Transactions : 2009-09-25