26 U.S.C. § 6708
§ 6708. Failure to maintain lists of advisees with respect to reportable transactions
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History
Added in 1984 by the Deficit Reduction Act of 1984. Last changed October 22, 2004 by the American Jobs Creation Act of 2004.
Every change, newest first (3)
- October 22, 2004American Jobs Creation Act of 2004
- October 22, 1986Tax Reform Act of 1986
- July 18, 1984Deficit Reduction Act of 1984 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
If any person who is required to maintain a list under section 6112(a) fails to make such list available upon written request to the Secretary in accordance with section 6112(b) within 20 business days after the date of such request, such person shall pay a penalty of $10,000 for each day of such failure after such 20th day.
No penalty shall be imposed by paragraph (1) with respect to the failure on any day if such failure is due to reasonable cause.
The penalty imposed by this section shall be in addition to any other penalty provided by law.