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26 U.S.C. § 6720 — Fraudulent acknowledgments with respect to donations of motor vehicles, boats, and airplanes
Federal law — U.S. Code and appendices · legal_authorities
Any donee organization required under section 170(f)(12)(A) to furnish a contemporaneous written acknowledgment to a donor which knowingly furnishes a false or fraudulent acknowledgment, or which knowingly fails to furnish such acknowledgment in the manner, at the time, and showing the information required under section 170(f)(12), or regulations prescribed thereunder, shall for each such act, or for each such failure, be subject to a penalty equal to—
(1) in the case of an acknowledgment with respect to a qualified vehicle to which section 170(f)(12)(A)(ii) applies, the greater of—
(A) the product of the highest rate of tax specified in section 1 and the sales price stated on the acknowledgment, or
(B) the gross proceeds from the sale of such vehicle, and
(2) in the case of an acknowledgment with respect to any other qualified vehicle to which section 170(f)(12) applies, the greater of—
(A) the product of the highest rate of tax specified in section 1 and the claimed value of the vehicle, or
(B) $5,000.
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Source file: Laws/federal/codes/united-states-code/title-26/section-6720-fraudulent-acknowledgments-with-respect-to-donations-of-motor-vehicles-b--54ff92aacb.md
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Source location: Title 26, Chapter 68, § 6720; chapter-068-additions-to-the-tax-additional-amounts-and-assessable-penalties.md
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Any donee organization required under section 170(f)(12)(A) to furnish a contemporaneous written acknowledgment to a donor which knowingly furnishes a false or fraudulent acknowledgment, or which knowingly fails to furnish such acknowledgment in the manner, at the time, and showing the information required under section 170(f)(12), or regulations prescribed thereunder, shall for each such act, or for each such failure, be subject to a penalty equal to—
(1) in the case of an acknowledgment with respect to a qualified vehicle to which section 170(f)(12)(A)(ii) applies, the greater of—
(A) the product of the highest rate of tax specified in section 1 and the sales price stated on the acknowledgment, or
(B) the gross proceeds from the sale of such vehicle, and
(2) in the case of an acknowledgment with respect to any other qualified vehicle to which section 170(f)(12) applies, the greater of—
(A) the product of the highest rate of tax specified in section 1 and the claimed value of the vehicle, or
(B) $5,000.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Allowance of deduction**
(1) **General rule** — There shall be allowed as a deduction any charitable contribution (as defined in subsection (c)) payment of which is made within the taxable year. A charitable contribution shall be allowable as a deduction only if verified under regulations prescribed by the Secretary.
(2) **Corporations on accrual basis** — In the case of a corporation reporting its taxable income on the accrual basis, if—
(A) the board of directors authorizes a charitable contribution during any taxable year, and
(B) payment of such contribution is made after the close of such taxable year and on or before the 15th day of the fourth month following the close of such taxable year,
then the taxpayer may elect to treat such contribution as paid during such taxable year. The election may be made only at the time of the filing of the return for such taxable year, and shall be signified in such manner as the Secretary shall by regulations prescribe.
(3) **Future interests in tangible personal property** — For purposes of this section, payment of a charitable contribution which consists of a future interest in tangible personal property shall be treated as made only when all intervening interests in, and rights to the actual possession or enjoyment of, the property have expired or are held by persons other than the taxpayer or those standing in a relationship to the taxpayer described in section 267(b) or 707(b). For purposes of the preceding sentence, a fixture which is intended to be severed from the real property shall be treated as tangible personal property.
**(b) Percentage limitations**
(1) **Individuals** — In the case of an individual, the deduction provided in subsection (a) shall be limited as provided in the succeeding subparagra
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 170
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Federal law — U.S. Code and appendices · legal_authorities
Page 3816
TITLE 26—INTERNAL REVENUE CODE
§ 6718
§ 6718. Failure to display tax registration on ves-
sels
(a) Failure to display registration
Every operator of a vessel who fails to display
proof
of
registration
pursuant
to
section
4101(a)(3) shall pay a penalty of $500 for each
such failure. With respect to any vessel, only
one penalty shall be imposed by this section
during any calendar month.
(b) Multiple violations
In determining the penalty under subsection
(a) on any person, subsection (a) shall be applied
by increasing the amount in subsection (a) by
the product of such amount and the aggregate
number of penalties (if any) imposed with re-
spect to prior months by this section on such
person (or a related person or any predecessor of
such person or related person).
(c) Reasonable cause exception
No penalty shall be imposed under this section
with respect to any failure if it is shown that
such failure is due to reasonable cause.
(Added and amended Pub. L. 108–357, title VIII,
§§ 861(b)(1), 862(b), Oct. 22, 2004, 118 Stat. 1618,
1619.)
Editorial Notes
AMENDMENTS
2004—Subsec. (a). Pub. L. 108–357, § 862(b), substituted
‘‘section 4101(a)(3)’’ for ‘‘section 4101(a)(2)’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by section 862(b) of Pub. L. 108–357 effec-
tive Jan. 1, 2005, see section 862(c) of Pub. L. 108–357, set
out as a note under section 4101 of this title.
EFFECTIVE DATE
Pub. L. 108–357, title VIII, § 861(c)(2), Oct. 22, 2004, 118
Stat. 1619, provided that: ‘‘The amendments made by
subsection (b) [enacting this section] shall apply to
penalties imposed after December 31, 2004.’’
§ 6719. Failure to register or reregister
(a) Failure to register or reregister
Every person who is req
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 6720
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