Section 59-1-1304 - Penalty for taxpayer failure to disclose a reportable transaction(1)(a) Except as provided in Subsection (1)(b), a taxpayer that fails to disclose a reportable transaction as required by Section 59-1-1303 is subject to a penalty of $15,000.(b) A taxpayer that fails to disclose a listed transaction as required by Section 59-1-1303 is subject to a penalty of $30,000.(2) A penalty imposed by this section is in addition to any other penalty imposed by this title.Enacted by Chapter 237, 2006 General Session.