26 U.S.C. § 6688

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 6688 - Assessable penalties with respect to information required to be furnished under section 7654

In addition to any criminal penalty provided by law, any person described in section 7654(a) who is required under section 937(c) or by regulations prescribed under section 7654 to furnish information and who fails to comply with such requirement at the time prescribed by such regulations unless it is shown that such failure is due to reasonable cause and not to willful neglect, shall pay (upon notice and demand by the Secretary and in the same manner as tax) a penalty of $1,000 for each such failure.

26 U.S.C. § 6688

Added Pub. L. 92-606, §1(c), Oct. 31, 1972, 86 Stat. 1496, §6687; renumbered §6688, Pub. L. 93-406, title II, §1016(b)(4), Sept. 2, 1974, 88 Stat. 932; amended Pub. L. 94-455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 108-357, title VIII, §908(b), Oct. 22, 2004, 118 Stat. 1656.

EDITORIAL NOTES

AMENDMENTS2004- Pub. L. 108-357 inserted "under section 937(c) or" before "by regulations" and substituted "$1,000" for "$100".1976- Pub. L. 94-455 struck out "or his delegate" after "Secretary".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 2004 AMENDMENT Amendment by Pub. L. 108-357 applicable to taxable years ending after Oct. 22, 2004, see section 908(d)(1) of Pub. L. 108-357 set out as an Effective Date note under section 937 of this title.

EFFECTIVE DATESection applicable with respect to taxable years beginning after Dec. 31, 1972, see section 2 of Pub. L. 92-606 set out in part as a note under section 931 of this title.

Secretary

The term "Secretary" means the Secretary of the Treasury or his delegate.

person

The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.