26 U.S.C. § 6725
§ 6725. Failure to report information under section 4101
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of each failure described in subsection (b) by any person with respect to a vessel or facility, such person shall pay a penalty of $10,000 in addition to the tax (if any).
For purposes of subsection (a), the failures described in this subsection are—
any failure to make a report under section 4101(d) on or before the date prescribed therefor, and
any failure to include all of the information required to be shown on such report or the inclusion of incorrect information.
No penalty shall be imposed under this section with respect to any failure if it is shown that such failure is due to reasonable cause.