Opinion ID: 4146686
Heading Depth: 3
Heading Rank: 2

Heading: Key Statutes and Regulation

Text: The following statutes and regulation are the primary legal materials applicable to this appeal. a. 26 U.S.C. § 6707A: Penalty for failure to include reportable transaction information with return
Any person who fails to include on any return or statement any information with respect to a reportable transaction which is required under section 6011 to be included with such return or statement shall pay a penalty in the amount determined under subsection (b).

Except as otherwise provided in this subsection, the amount of the penalty under subsection (a) with respect to any reportable transaction shall be 75 percent of the decrease in tax shown on the return as a result of such transaction (or which would have resulted from such transaction if such transaction were respected for Federal tax purposes).
The amount of the penalty under subsection (a) with respect to any reportable transaction shall not exceed— (A) in the case of a listed transaction, $200,000 ($100,000 in the case of a natural person), or (B) in the case of any other reportable transaction, $50,000 ($10,000 in the case of a natural person). -5-
The amount of the penalty under subsection (a) with respect to any transaction shall not be less than $10,000 ($5,000 in the case of a natural person).
For purposes of this section:
The term “reportable transaction” means any transaction with respect to which information is required to be included with a return or statement because, as determined under regulations prescribed under section 6011, such transaction is of a type which the Secretary determines as having a potential for tax avoidance or evasion.
The term “listed transaction” means a reportable transaction which is the same as, or substantially similar to, a transaction specifically identified by the Secretary as a tax avoidance transaction for purposes of section 6011.

The Commissioner of Internal Revenue may rescind all or any portion of any penalty imposed by this section with respect to any violation if— (A) the violation is with respect to a reportable transaction other than a listed transaction, and (B) rescinding the penalty would promote compliance with the requirements of this title and effective tax administration.
Notwithstanding any other provision of law, any determination under this subsection may not be reviewed in any judicial proceeding. b. 26 U.S.C. § 6330: Notice and opportunity for [a CDP] hearing before levy  26 U.S.C. § 6330(c)(2)(B) (“¶ (c)(2)(B)”): (c) Matters considered at hearing In the case of any hearing conducted under this section—