Sec. 307. Inflation adjustment for certain civil penalties under the Internal Revenue Code of 1986
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Section 6651 is amended by adding at the end the following new subsection: In the case of any return required to be filed in a calendar year beginning after 2014, the $135 dollar amount under subsection
(a)shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount adjusted under paragraph
(1)is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5. . Section 6652(c) is amended by adding at the end the following new paragraph: In the case of any failure relating to a return required to be filed in a calendar year beginning after 2014, each of the dollar amounts under paragraphs (1), (2), and
(3)shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount adjusted under subparagraph (A)— is not less than $5,000 and is not a multiple of $500, such amount shall be rounded to the next lowest multiple of $500, and is not described in clause
(i)and is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5. . The last sentence of section 6652(c)(1)(A) is amended by striking the first sentence of this subparagraph shall be applied by substituting and inserting $100 for $20 and in applying the first sentence of this subparagraph, the amount of the penalty for each day during which a failure continues shall be $100 in lieu of the amount otherwise specified, and . Clause
(ii)of section 6652(c)(2)(C) is amended by striking the first sentence of paragraph (1)(A) and all that follows and inserting in applying the first sentence of paragraph (1)(A), the amount of the penalty for each day during which a failure continues shall be $100 in lieu of the amount otherwise specified, and in lieu of applying the second sentence of paragraph (1)(A), the maximum penalty under paragraph (1)(A) shall not exceed $50,000, and . Section 6695 is amended by adding at the end the following new subsection: In the case of any failure relating to a return or claim for refund filed in a calendar year beginning after 2014, each of the dollar amounts under subsections (a), (b), (c), (d), (e), (f), and
(g)shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount adjusted under subparagraph (A)— is not less than $5,000 and is not a multiple of $500, such amount shall be rounded to the next lowest multiple of $500, and is not described in clause
(i)and is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5. . Section 6698 is amended by adding at the end the following new subsection: In the case of any return required to be filed in a calendar year beginning after 2014, the $195 dollar amount under subsection (b)(1) shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount adjusted under paragraph
(1)is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5. . Section 6699 is amended by adding at the end the following new subsection: In the case of any return required to be filed in a calendar year beginning after 2014, the $195 dollar amount under subsection (b)(1) shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount adjusted under paragraph
(1)is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5. . Paragraph
(1)of section 6721(f) is amended by striking For each fifth calendar year beginning after 2012 and inserting In the case of any failure relating to a return required to be filed in a calendar year beginning after 2014 . Paragraph
(1)of section 6722(f) is amended by striking For each fifth calendar year beginning after 2012 and inserting In the case of any failure relating to a statement required to be furnished in a calendar year beginning after 2014 . The amendments made by this section shall apply to returns required to be filed after December 31, 2014.