§ 6708. Failure to maintain lists of advisees with respect to reportable transactions
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/usc/title-26/section-6708A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Imposition of penalty
(1)In general If any person who is required to maintain a list under section 6112(a) fails to make such list available upon written request to the Secretary in accordance with section 6112(b) within 20 business days after the date of such request, such person shall pay a penalty of $10,000 for each day of such failure after such 20th day.
(2)Reasonable cause exception No penalty shall be imposed by paragraph
(1)with respect to the failure on any day if such failure is due to reasonable cause.
(b)Penalty in addition to other penalties The penalty imposed by this section shall be in addition to any other penalty provided by law.
(Added Pub. L. 98–369, div. A, title I, § 142(b), July 18, 1984, 98 Stat. 682; amended Pub. L. 99–514, title XV, § 1534(a), Oct. 22, 1986, 100 Stat. 2750; Pub. L. 108–357, title VIII, §§ 815(b)(5)(A), 817(a), Oct. 22, 2004, 118 Stat. 1583, 1584.)
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- Public Law 108–357To amend the Internal Revenue Code of 1986 to remove impediments in such Code and make our manufacturing, service, and high-technology businesses and workers more competitive and productive both at Oct. 22, 2004[[H
- Public Law 98–369To provide for tax reform, and for deficit reduction
15 references not yet in our index
- Pub. L. 98–369, div. A, title I, § 142(b)
- 98 Stat. 682
- Pub. L. 99–514, title XV, § 1534(a)
- 100 Stat. 2750
- Pub. L. 108–357, title VIII
- 118 Stat. 1583
- Pub. L. 108–357, § 815(b)(5)(A)
- Pub. L. 108–357, § 817(a)
- Pub. L. 99–514
- section 815(b)(5)(A) of Pub. L. 108–357
- section 815(c) of Pub. L. 108–357
- Pub. L. 108–357, title VIII, § 817(b)
- 118 Stat. 1584
- Pub. L. 99–514, title XV, § 1534(b)
- section 142(d) of Pub. L. 98–369
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§ 6708
Failure to maintain lists of advisees with respect to reportable transactions
Stat.×3
Fed. Reg.×2
U.S.C.×2
Pub. L.Pub. L. 98–369, div. A, title I, § 142(b)
Stat.98 Stat. 682
Pub. L.Pub. L. 99–514, title XV, § 1534(a)
Stat.100 Stat. 2750
Pub. L.Pub. L. 108–357, title VIII
Cites 18 · showing 8Cited by 7 across 3 sources