26 U.S.C. § 6679
§ 6679. Failure to file returns, etc., with respect to foreign corporations or foreign partnerships
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1962 by the Public Law 87-834. Last changed March 23, 2018 by the Consolidated Appropriations Act, 2018.
Every change, newest first (8)
- March 23, 2018Consolidated Appropriations Act, 2018
- October 22, 2004American Jobs Creation Act of 2004
- August 5, 1997Taxpayer Relief Act of 1997
- January 12, 1983Public Law 97-448
- September 3, 1982Tax Equity and Fiscal Responsibility Act of 1982
- September 2, 1974Public Law 93-406
- December 30, 1969Tax Reform Act of 1969
- October 16, 1962Public Law 87-834 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In addition to any criminal penalty provided by law, any person required to file a return under section 6046 or 6046A who fails to file such return at the time provided in such section, or who files a return which does not show the information required pursuant to such section, shall pay a penalty of $10,000, unless it is shown that such failure is due to reasonable cause.
If any failure described in paragraph (1) continues for more than 90 days after the day on which the Secretary mails notice of such failure to the United States person, such person shall pay a penalty (in addition to the amount required under paragraph (1)) of $10,000 for each 30-day period (or fraction thereof) during which such failure continues after the expiration of such 90-day period. The increase in any penalty under this paragraph shall not exceed $50,000.
Subchapter B of chapter 63 (relating to deficiency procedure for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by subsection (a).