General rule
If a taxpayer fails to meet the requirements of section 6114, there is hereby imposed a penalty equal to $1,000 ($10,000 in the case of a C corporation) on each such failure.
Authority to waive
The Secretary may waive all or any part of the penalty provided by this section on a showing by the taxpayer that there was reasonable cause for the failure and that the taxpayer acted in good faith.
Penalty in addition to other penalties
The penalty imposed by this section shall be in addition to any other penalty imposed by law.
Pub. L. 100–647, title I, § 1012(aa)(5)(B)102 Stat. 3532(Added , , .)
Editorial Notes
Codification
section 6713 of this titleAnother section 6712 was renumbered .
Statutory Notes and Related Subsidiaries
Effective Date
section 1012(aa)(5)(D) of Pub. L. 100–647section 6114 of this titleSection applicable to taxable periods the due date for filing returns for which (without extension) occurs after , see , set out as a note under .