Federal · Title 26 — Internal Revenue Code

26 U.S.C. § 6688: Assessable penalties with respect to information required to be furnished under section 7654

Civil

What this law says, in plain English

This statute imposes a civil penalty of $1,000 for failing to furnish required information, unless the failure resulted from reasonable cause rather than willful neglect.

Read the full statutory text

In addition to any criminal penalty provided by law, any person described in section 7654(a) who is required under section 937(c) or 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 $1,000 for each such failure.

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