Sec. 109. Penalties
142 words·~1 min read·
/bill/114/hr/1749/ih/section-109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(a)of section 5761 is amended— by striking willfully and inserting knowingly , and by striking $1,000 and inserting $10,000 . Subsection
(b)of section 5761 is amended by striking 5 percent and inserting 10 percent . Section 5761 is amended by redesignating subsection
(f)as subsection
(g)and inserting after subsection
(e)the following new subsection: In the case of a calendar year beginning after 2015, the penalty dollar amounts provided under this chapter shall each be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting calendar year 2014 for calendar year 1992 in subparagraph
(B)thereof. If any amount as adjusted under paragraph
(1)is not a multiple of $10, such amount shall be rounded to the next highest multiple of $10. .