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Sec. 6686. Failure To File Returns Or Supply Information By DISC Or Former 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, 504(d), Dec. 10, 1971, 85 Stat. 551, and amended Pub. L. 94-455, title XIX, 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 98-369, div. A, title VIII, 801(d)(15)(A), July 18, 1984, 98 Stat. 997; Pub. L. 110-172, Sec. 11(g)(21), Dec. 29, 2007, 121 Stat. 2473.)
BACKGROUND NOTES
AMENDMENTS
2007Pub. L. 110-172, Sec. 11(g)(21), inserted “Former” before “FSC” in the heading.
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 2007 AMENDMENT
Amendment by Sec. 11(g)(21) of Pub. L. 110-172 effective on the date of the enactment of this Act [Enacted: Dec. 29, 2007].
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by Pub. L. 98-369 effective for transactions after Dec. 31, 1984, in taxable years ending after such date, see section 805(a)(1) of Pub. L. 98-369, set out as an Effective Date note under section 921 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.