§6050A — Reporting requirements of certain fishing boat operators
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Statute Text — 26 U.S.C. §6050A
The operator of a boat on which one or more individuals, during a calendar year, perform services described in section 3121(b)(20) shall submit to the Secretary (at such time, and in such manner and form, as the Secretary shall by regulations prescribe) information respecting—
the identity of each individual performing such services;
the percentage of each such individual’s share of the catches of fish or other forms of aquatic animal life, and the percentage of the operator’s share of such catches;
if such individual receives his share in kind, the type and weight of such share, together with such other information as the Secretary may prescribe by regulations reasonably necessary to determine the value of such share;
if such individual receives a share of the proceeds of such catches, the amount so received; and
any cash remuneration described in section 3121(b)(20)(A).
Every person required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing the information relating to such person required to be contained in such return. The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) was required to be made.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.6050A-1 Reporting requirements of certain fishing boat operators
- Treas. Reg. §Treas. Reg. §1.6050A-1(a) Requirement of reporting.
- Treas. Reg. §Treas. Reg. §1.6050A-1(b) Time and place for filing.
- Treas. Reg. §Treas. Reg. §1.6050A-1(c) Requirement of and time for furnishing statement—(1) requirement of furnishing statement.
- Treas. Reg. §Treas. Reg. §1.6050A-1(d) Cross-reference to penalties.
- Treas. Reg. §Treas. Reg. §1.6050A-1(e) Effective/applicability date.
- Treas. Reg. §Treas. Reg. §301.6050A-1 Information returns regarding services performed by certain crewmen on fishing boats
1 Citing Cases
Section 6050A Section 6050A(a) provides, in pertinent part, that the operator of a boat on which one or more individuals perform services described in section 3121(b)(20) is required to submit to the Secretary information regarding the identity of each fishing boat worker if the worker receives a share of the proceeds of the catch of fish, the amou