26 U.S. Code § 6723 - Failure to comply with other information reporting requirements
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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.
Source(Added Pub. L. 99–514, title XV, § 1501(a),Oct. 22, 1986, 100 Stat. 2733; amended Pub. L. 101–239, title VII, § 7711(a),Dec. 19, 1989, 103 Stat. 2390.)
1989—Pub. L. 101–239substituted “comply with other information reporting requirements” for “include correct information” in section catchline and amended text generally, substituting a single par. for former subsec. (a) stating general rule, subsec. (b) relating to penalty in case of intentional disregard, and subsec. (c) relating to coordination with former section 6676 of this title.
Effective Date of 1989 Amendment
Amendment by Pub. L. 101–239applicable to returns and statements the due date for which (determined without regard to extensions) is after Dec. 31, 1989, see section 7711(c) ofPub. L. 101–239, set out as a note under section 6721 of this title.