I.R.C. § 6714(a) Imposition Of Penalty —
If an organization fails to meet the disclosure requirement of section 6115
with respect to a quid pro quo contribution, such organization shall pay a penalty
of $10 for each contribution in respect of which the organization fails to make the
required disclosure, except that the total penalty imposed by this subsection with
respect to a particular fundraising event or mailing shall not exceed $5,000.
I.R.C. § 6714(b) Reasonable Cause Exception —
No penalty shall be imposed under this section with respect to any failure if it
is shown that such failure is due to reasonable cause.
(Added Pub. L. 103-66, Sec. 13173, Aug. 10, 1993.)
BACKGROUND NOTES
EFFECTIVE DATE
Applicable to quid pro quo contributions made on or after January 1, 1994.
Prior Provision
A prior 6714, also added by Pub. L. 103-66, was redesignated as Sec. 6715 by Pub. L. 104-188, Sec. 1703, effective as if included in the provision of Pub. L. 103-66 to which such amendment relates.
