
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: 26USC6723]

 
                     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 II--FAILURE TO COMPLY WITH CERTAIN INFORMATION REPORTING 
                              REQUIREMENTS
 
Sec. 6723. Failure to comply with other information reporting 
        requirements
        
    In the case of a failure by any person to comply with a specified 
information reporting requirement on or before the time prescribed 
therefor, such person shall pay a penalty of $50 for each such failure, 
but the total amount imposed on such person for all such failures during 
any calendar year shall not exceed $100,000.

(Added Pub. L. 99-514, title XV, Sec. 1501(a), Oct. 22, 1986, 100 Stat. 
2733; amended Pub. L. 101-239, title VII, Sec. 7711(a), Dec. 19, 1989, 
103 Stat. 2390.)


                               Amendments

    1989--Pub. L. 101-239 substituted ``comply with other information 
reporting requirements'' for ``include correct information'' in section 
catchline and amended text generally, substituting a single par. for 
former subsec. (a) stating general rule, subsec. (b) relating to penalty 
in case of intentional disregard, and subsec. (c) relating to 
coordination with former section 6676 of this title.


                    Effective Date of 1989 Amendment

    Amendment by Pub. L. 101-239 applicable to returns and statements 
the due date for which (determined without regard to extensions) is 
after Dec. 31, 1989, see section 7711(c) of Pub. L. 101-239, set out as 
a note under section 6721 of this title.


                             Effective Date

    Section applicable to returns the due date for which (determined 
without regard to extensions) is after Dec. 31, 1986, see section 
1501(e) of Pub. L. 99-514, set out as a note under section 6721 of this 
title.
