26 U.S.C. § 6659
§ 6659. Improper claim for Trump account contribution pilot program credit
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Changed by the 2025 tax lawAdded in 2025 by the One Big Beautiful Bill Act (2025). Last changed July 4, 2025 by the One Big Beautiful Bill Act (2025).
Every change, newest first (1)
- July 4, 2025One Big Beautiful Bill Act (2025) · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
(a) In general
In the case of any individual who makes an election under section 6434 with respect to an individual who is not an eligible child of the taxpayer—
(1)
if such election was made due to negligence or disregard of the rules or regulations, there shall be imposed a penalty of $500, or
(2)
if such election was made due to fraud, there shall be imposed a penalty of $1,000.