26 U.S.C. § 6700
Promoting abusive tax shelters, etc.
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 6700, Promoting abusive tax shelters, etc, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/464274
- Permanent ID
ys:prov:464274@1- SHA-256
078781157b1af0041b9cbbb503235c1856bad2fdf998ded79fd84d5e31045a0b
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Full text
Any person who—
organizes (or assists in the organization of)—
makes or furnishes or causes another person to make or furnish (in connection with such organization or sale)—
For purposes of this section, the term “gross valuation overstatement” means any statement as to the value of any property or services if—
The Secretary may waive all or any part of the penalty provided by subsection (a) with respect to any gross valuation overstatement on a showing that there was a reasonable basis for the valuation and that such valuation was made in good faith.
The penalty imposed by this section shall be in addition to any other penalty provided by law.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Tax Equity and Fiscal Responsibility Act of 1982House: no recorded tallySenate: no recorded tally
- Deficit Reduction Act of 1984House: no recorded tallySenate: no recorded tally
- Omnibus Budget Reconciliation Act of 1989House: no recorded tallySenate: 87–7
- American Jobs Creation Act of 2004
- Consolidated Appropriations Act, 2018House: 256–167Senate: no recorded tally