26 USC 6695 - Other assessable penalties with respect to the preparation of tax returns for other persons

U.S Code last checked for updates: Nov 22, 2024

§ 6695.

Other assessable penalties with respect to the preparation of tax returns for other persons

(a)

Failure to furnish copy to taxpayer

(b)

Failure to sign return

(c)

Failure to furnish identifying number

(d)

Failure to retain copy or list

(e)

Failure to file correct information returns

Any person required to make a return under section 6060 who fails to comply with the requirements of such section shall pay a penalty of $50 for—

(1)

each failure to file a return as required under such section, and

(2)

each failure to set forth an item in the return as required under section,

unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The maximum penalty imposed under this subsection on any person with respect to any return period shall not exceed $25,000.

(f)

Negotiation of check

(g)

Failure to be diligent in determining eligibility for certain tax benefits

Any person who is a tax return preparer with respect to any return or claim for refund who fails to comply with due diligence requirements imposed by the Secretary by regulations with respect to determining—

(1)

eligibility to file as a head of household (as defined in section 2(b)) on the return, or

(2)

eligibility for, or the amount of, the credit allowable by section 24, 25A(a)(1), or 32,

shall pay a penalty of $500 for each such failure.

(h)

Adjustment for inflation

(1)

In general

(2)

Rounding

If any amount adjusted under paragraph (1)—

(A)

is not less than $5,000 and is not a multiple of $500, such amount shall be rounded to the next lowest multiple of $500, and

(B)

is not described in subparagraph (A) and is not a multiple of $5, such amount shall be rounded to the next lowest multiple of $5.

(Added Pub. L. 94–455, title XII, § 1203(f), Oct. 4, 1976, 90 Stat. 1692; amended Pub. L. 95–600, title VII, § 701(cc)(1), Nov. 6, 1978, 92 Stat. 2923; Pub. L. 98–369, div. A, title I, § 179(b)(2), July 18, 1984, 98 Stat. 718; Pub. L. 99–44, § 1(b), May 24, 1985, 99 Stat. 77; Pub. L. 101–239, title VII, § 7733(a)–(d), Dec. 19, 1989, 103 Stat. 2402, 2403; Pub. L. 105–34, title X, § 1085(a)(2), Aug. 5, 1997, 111 Stat. 956; Pub. L. 110–28, title VIII, § 8246(a)(2)(G)(i), (ii), May 25, 2007, 121 Stat. 202; Pub. L. 112–41, title V, § 501(a), Oct. 21, 2011, 125 Stat. 459; Pub. L. 113–295, div. B, title II, § 208(c), Dec. 19, 2014, 128 Stat. 4073; Pub. L. 114–113, div. Q, title II, § 207(a), Dec. 18, 2015, 129 Stat. 3082; Pub. L. 115–97, title I, §§ 11001(b), 11002(d)(1)(MM), Dec. 22, 2017, 131 Stat. 2058, 2060; Pub. L. 115–141, div. U, title IV, § 401(a)(299)(C), (309), (310), Mar. 23, 2018, 132 Stat. 1198, 1199.)

cite as: 26 USC 6695