26 U.S.C. § 6723
§ 6723. Failure to comply with other information reporting requirements
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1986 by the Tax Reform Act of 1986. Last changed December 19, 1989 by the Omnibus Budget Reconciliation Act of 1989.
Every change, newest first (2)
- December 19, 1989Omnibus Budget Reconciliation Act of 1989
- October 22, 1986Tax Reform Act of 1986 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of a failure by any person to comply with a specified information reporting requirement on or before the time prescribed therefor, such person shall pay a penalty of $50 for each such failure, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $100,000.