
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC6686]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
  CHAPTER 68--ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE 
                                PENALTIES
 
                   Subchapter B--Assessable Penalties
 
                       PART I--GENERAL PROVISIONS
 
Sec. 6686. Failure to file returns or supply information by DISC 
        or FSC
        
    In addition to the penalty imposed by section 7203 (relating to 
willful failure to file return, supply information, or pay tax) any 
person required to supply information or to file a return under section 
6011(c) who fails to supply such information or file such return at the 
time prescribed by the Secretary, or who files a return which does not 
show the information required, shall pay a penalty of $100 for each 
failure to supply information (but the total amount imposed on the 
delinquent person for all such failures during any calendar year shall 
not exceed $25,000) or a penalty of $1,000 for each failure to file a 
return, unless it is shown that such failure is due to reasonable cause.

(Added Pub. L. 92-178, title V, Sec. 504(d), Dec. 10, 1971, 85 Stat. 
551; amended Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A), Oct. 4, 
1976, 90 Stat. 1834; Pub. L. 98-369, div. A, title VIII, 
Sec. 801(d)(15)(A), July 18, 1984, 98 Stat. 997.)


                               Amendments

    1984--Pub. L. 98-369 substituted ``Failure to file returns or supply 
information by DISC or FSC'' for ``Failure of DISC to file returns'' in 
section catchline, and in text substituted ``section 6011(c)'' for 
``section 6011(e)''.
    1976--Pub. L. 94-455 struck out ``or his delegate'' after 
``Secretary''.


                    Effective Date of 1984 Amendment

    Amendment by Pub. L. 98-369 applicable to transactions after Dec. 
31, 1984, in taxable years ending after such date, see section 805(a)(1) 
of Pub. L. 98-369, as amended, set out as a note under section 245 of 
this title.


                             Effective Date

    Section applicable with respect to taxable years ending after Dec. 
31, 1971, except that a corporation may not be a DISC for any taxable 
year beginning before Jan. 1, 1972, see section 507 of Pub. L. 92-178, 
set out as a note under section 991 of this title.
