26 U.S.C. § 6686 — Failure to file returns or supply information by DISC or former FSC
submitted 55 years ago by Pub. L. 92-178 to r/title-26-INTERNAL-REVENUE-CODE · 121 words · no verdicts yet
A person required to provide information or file a DISC or former FSC return who does so late or incompletely owes specified penalties. Reasonable cause can excuse the failure, and information-failure penalties are capped at $25,000 per calendar year.
In addition to the section 7203 penalty, a person required under section 6011(c) to provide information or file a return owes $100 for each failure to provide information, capped at $25,000 for all such failures in a calendar year, or $1,000 for each failure to file a return. The person also owes the applicable penalty for a return missing required information. No penalty applies if reasonable cause caused the failure.
In addition to the penalty imposed by section 7203 (relating to willful failure to file return, supply information, or pay tax) any person required to supply information or to file a return under section 6011(c) who fails to supply such information or file such return at the time prescribed by the Secretary*, or who files a return which does not show the information required, shall pay a penalty of $100 for each failure to supply information (but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $25,000) or a penalty of $1,000 for each failure to file a return, unless it is shown that such failure is due to reasonable cause.
Source credit: (Added Pub. L. 92–178, title V, § 504(d), Dec. 10, 1971, 85 Stat. 551; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 98–369, div. A, title VIII, § 801(d)(15)(A), July 18, 1984, 98 Stat. 997; Pub. L. 110–172, § 11(g)(21), Dec. 29, 2007, 121 Stat. 2491.)
- 1971Enacted · Pub. L. 92-178 · 85 Stat. 551
- 1976Amended · Pub. L. 94-455 · 90 Stat. 1834
- 1984Amended · Pub. L. 98-369 · 98 Stat. 997
- 2007Amended · Pub. L. 110-172 · 121 Stat. 2491
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-178 on 1971-12-10.
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