§6723 — Failure to comply with other information reporting requirements
2 cases·2 cited
Statute Text — 26 U.S.C. §6723
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.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §301.6723-1 Failure to comply with other information reporting requirements
- Treas. Reg. §Treas. Reg. §301.6723-1(a) Imposition of penalty—(1) General rule.
- Treas. Reg. §Treas. Reg. §301.6723-1(b) Examples.
- Treas. Reg. §Treas. Reg. §301.6723-1(i) §301.6723-1(i)
2 Citing Cases
Section 6722 provides for similar penalties in the case of “Failure to furnish correct payee statements”; section 6723 prescribes a penalty for “Failure to comply with other information reporting requirements”, and section 6724 contains, among other things, a reasonable cause waiver.
Section 6722 provides for similar penalties in the case of “Failure to furnish correct payee statements”; section 6723 prescribes a penalty for “Failure to comply with other information reporting requirements”, and section 6724 contains, among other things, a reasonable cause waiver.