Sec. 301. Penalty for failure to meet due diligence requirements for the child tax credit
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Section 6695 is amended by adding at the end the following new subsection: Any person who is a tax return preparer with respect to any return or claim for refund who fails to comply with due diligence requirements imposed by the Secretary by regulations with respect to determining eligibility for, or the amount of, the credit allowable by section 24 shall pay a penalty of $500 for each such failure. . The amendment made by this section shall apply to taxable years beginning after December 31, 2014.