26 U.S.C. § 6659 | Improper claim for Trump account contribution pilot program credit

(a)

In the case of any individual who makes an election under section 6434 with respect to an individual who is not an eligible child of the taxpayer—

(1)

if such election was made due to negligence or disregard of the rules or regulations, there shall be imposed a penalty of $500, or

(2)

if such election was made due to fraud, there shall be imposed a penalty of $1,000.

(b)

(1)

The term “eligible child” has the meaning given such term under section 6434.

(2)

The terms “negligence” and “disregard” have the same meaning as when such terms are used in section 6662.

Pub. L. 97–34, title VII, § 722(a)(1)Aug. 13, 198195 Stat. 341 Pub. L. 97–448, title I, § 107(a)(1)Jan. 12, 198396 Stat. 2391 Pub. L. 98–369, div. A, title I, § 155(c)(1)July 18, 198498 Stat. 693 Pub. L. 101–239, title VII, § 7721(c)(2)Dec. 19, 1989103 Stat. 2399A prior section 6659, added , , ; amended , (2), , ; , title VII, § 721(x)(4), , , 971, related to additions to tax in case of valuation overstatements for purposes of the income tax, prior to repeal by , , .

section 6662 of this titleAnother prior section 6659 was renumbered .

Dec. 31, 2025section 70204(e) of Pub. L. 119–21 section 128 of this titleSection applicable to taxable years beginning after , see , set out as a note under .