In the case of a failure by any person to comply with a specified information reporting requirement on or before the time prescribed therefor, such person shall pay a penalty of $50 for each such failure, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $100,000.
Title 26
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26 U.S.C. § 6723.Chapter 68
§ 6723
Failure to comply with other information reporting requirements
Title 26
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Subchapter: Assessable Penalties
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