26 USC 6705: Failure by broker to provide notice to payors
Text contains those laws in effect on August 17, 2024
From Title 26-INTERNAL REVENUE CODESubtitle F-Procedure and AdministrationCHAPTER 68-ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIESSubchapter B-Assessable PenaltiesPART I-GENERAL PROVISIONS
§6705. Failure by broker to provide notice to payors
(a) In general
Any person required under section 3406(d)(2)(B) to provide notice to any payor who willfully fails to provide such notice to such payor shall pay a penalty of $500 for each such failure.
(b) Penalty in addition to other penalties
Any penalty imposed by this section shall be in addition to any other penalty provided by law.
(Added
Statutory Notes and Related Subsidiaries
Effective Date
Section effective with respect to payments made after Dec. 31, 1983, see section 110(a) of