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26 U.S.C. § 6724

Waiver; definitions and special rules

United States · Title 26 — INTERNAL REVENUE CODE · Status: effective

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26 U.S.C. § 6724, Waiver; definitions and special rules, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/464304
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No penalty shall be imposed under this part with respect to any failure if it is shown that such failure is due to reasonable cause and not to willful neglect. Any penalty imposed by this part shall be paid on notice and demand by the Secretary and in the same manner as tax. No penalty shall be imposed under section 6721 solely by reason of any failure to comply with the requirements of the regulations prescribed under section 6011(e)(2), except to the extent that such a failure occurs with respect to more than the applicable number (determined under section 6011(e)(5) with respect to the calendar year to which such returns relate) of information returns or with respect to a return described in section 6011(e)(4). For purposes of this part— The term “information return” means— any statement of the amount of payments to another person required by— any return required by— any statement of the amount of payments to another person required to be made to the Secretary under— The term “payee statement” means any statement required to be furnished under— The term “specified information reporting requirement” means— any requirement contained in the regulations prescribed under section 6109 that a person— any requirement under section 6109(h) that— The term “required filing date” means the date prescribed for filing an information return with the Secretary (determined with regard to any extension of time for filing). If any partnership return under section 6031(a) is required under section 6011(e) to be filed on magnetic media or in other machine-readable form, for purposes of this part, each schedule required to be included with such return with respect to each partner shall be treated as a separate information return. No penalty shall be imposed under section 6721 or 6722 solely by reason of failing to provide the TIN of an individual on a return or statement required by section 6050S(a)(1) if the eligible educational institution required to make such return contemporaneously makes a true and accurate certification under penalty of perjury (and in such form and manner as may be prescribed by the Secretary) that it has complied with standards promulgated by the Secretary for obtaining such individual’s TIN. No penalty shall be imposed under section 6721 or 6722 if—

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.