26 U.S.C. § 6684
§ 6684. Assessable penalties with respect to liability for tax under chapter 42
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1969 by the Tax Reform Act of 1969. Last changed December 22, 1987 by the Omnibus Budget Reconciliation Act of 1987.
Every change, newest first (2)
- December 22, 1987Omnibus Budget Reconciliation Act of 1987
- December 30, 1969Tax Reform Act of 1969 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
If any person becomes liable for tax under any section of chapter 42 (relating to private foundations and certain other tax-exempt organizations) by reason of any act or failure to act which is not due to reasonable cause and either—
such person has theretofore been liable for tax under such chapter, or
such act or failure to act is both willful and flagrant,
then such person shall be liable for a penalty equal to the amount of such tax.