26 U.S.C. § 6705

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 6705 - Failure by broker to provide notice to payors

(a) In general

Any person required under section 3406(d)(2)(B) to provide notice to any payor who willfully fails to provide such notice to such payor shall pay a penalty of $500 for each such failure.

(b) Penalty in addition to other penalties

Any penalty imposed by this section shall be in addition to any other penalty provided by law.

26 U.S.C. § 6705

Added Pub. L. 98-67, title I, §104(c)(1), Aug. 5, 1983, 97 Stat. 379.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective with respect to payments made after Dec. 31, 1983, see section 110(a) of Pub. L. 98-67, set out as an Effective Date of 1983 Amendment note under section 31 of this title.

person

The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.