26 USC 6688: Assessable penalties with respect to information required to be furnished under section 7654

26 USC 6688: Assessable penalties with respect to information required to be furnished under section 7654 Text contains those laws in effect on January 4, 1995

From Title 26-INTERNAL REVENUE CODESubtitle F-Procedure and AdministrationCHAPTER 68-ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIESSubchapter B-Assessable PenaltiesPART I-GENERAL PROVISIONS

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§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 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 $100 for each such failure.

(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 .)

Amendments

1976-Pub. L. 94–455 struck out "or his delegate" after "Secretary".

Effective Date

Section 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.