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26 U.S.C. § 4952 — Taxes on taxable expenditures
Federal law — U.S. Code and appendices · legal_authorities
**(a) Tax imposed**
(1) **On the fund** — There is hereby imposed on each taxable expenditure (as defined in subsection (d)) from the assets or income of a trust described in section 501(c)(21) a tax equal to 10 percent of the amount thereof. The tax imposed by this paragraph shall be paid by the trustee out of the assets of the trust.
(2) **On the trustee** — There is hereby imposed on the agreement of any trustee of such a trust to the making of an expenditure, knowing that it is a taxable expenditure, a tax equal to 2½ percent of the amount thereof, unless such agreement is not willful and is due to reasonable cause. The tax imposed by this paragraph shall be paid by the trustee who agreed to the making of the expenditure.
**(b) Additional taxes**
(1) **On the fund** — In any case in which an initial tax is imposed by subsection (a)(1) on a taxable expenditure and such expenditure is not corrected within the taxable period, there is hereby imposed a tax equal to 100 percent of the amount of the expenditure. The tax imposed by this paragraph shall be paid by the trustee out of the assets of the trust.
(2) **On the trustee** — In any case in which an additional tax is imposed by paragraph (1), if a trustee refused to agree to a part or all of the correction, there is hereby imposed a tax equal to 50 percent of the amount of the taxable expenditure. The tax imposed by this paragraph shall be paid by any trustee who refused to agree to part or all of the correction.
**(c) Joint and several liability** For purposes of subsections (a) and (b), if more than one person is liable under subsection (a)(2) or (b)(2) with respect to the making of a taxable expenditure, all such persons shall be jointly and severally liable under such paragraph with respect to such expenditu
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Stable record: federal_law:legal_authorities:record_usc_287b9b49333be72a8f0d0fd8
Source file: Laws/federal/codes/united-states-code/title-26/section-4952-taxes-on-taxable-expenditures--e7b952ecb9.md
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Source location: Title 26, Chapter 42, § 4952; chapter-042-private-foundations-and-certain-other-tax-exempt-organizations.md
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**(a) Tax imposed**
(1) **On the fund** — There is hereby imposed on each taxable expenditure (as defined in subsection (d)) from the assets or income of a trust described in section 501(c)(21) a tax equal to 10 percent of the amount thereof. The tax imposed by this paragraph shall be paid by the trustee out of the assets of the trust.
(2) **On the trustee** — There is hereby imposed on the agreement of any trustee of such a trust to the making of an expenditure, knowing that it is a taxable expenditure, a tax equal to 2½ percent of the amount thereof, unless such agreement is not willful and is due to reasonable cause. The tax imposed by this paragraph shall be paid by the trustee who agreed to the making of the expenditure.
**(b) Additional taxes**
(1) **On the fund** — In any case in which an initial tax is imposed by subsection (a)(1) on a taxable expenditure and such expenditure is not corrected within the taxable period, there is hereby imposed a tax equal to 100 percent of the amount of the expenditure. The tax imposed by this paragraph shall be paid by the trustee out of the assets of the trust.
(2) **On the trustee** — In any case in which an additional tax is imposed by paragraph (1), if a trustee refused to agree to a part or all of the correction, there is hereby imposed a tax equal to 50 percent of the amount of the taxable expenditure. The tax imposed by this paragraph shall be paid by any trustee who refused to agree to part or all of the correction.
**(c) Joint and several liability** For purposes of subsections (a) and (b), if more than one person is liable under subsection (a)(2) or (b)(2) with respect to the making of a taxable expenditure, all such persons shall be jointly and severally liable under such paragraph with respect to such expenditure.
**(d) Taxable expenditure** For purposes of this section, the term “taxable expenditure” means any amount paid or incurred by a trust described in section 501(c)(21) other than for a purpose specified in such section.
**(e) Definitions**
(1) **Correction** — The terms “correction” and “correct” mean, with respect to any taxable expenditure, recovering part or all of the expenditure to the extent recovery is possible, and where full recovery is not possible, contributions by the person or persons whose liabilities for black lung benefit claims (as defined in section 192(e)) are to be paid out of the trust to the extent necessary to place the trust in a financial position not worse than that in which it would be if the taxable expenditure had not been made.
(2) **Taxable period** — The term “taxable period” means, with respect to any taxable expenditure, the period beginning with the date on which the taxable expenditure occurs and ending on the earlier of—
(A) the date of mailing a notice of deficiency with respect to the tax imposed by subsection (a)(1) under section 6212, or
(B) the date on which the tax imposed by subsection (a)(1) is assessed.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** If any taxable event is corrected during the correction period for such event, then any second tier tax imposed with respect to such event (including interest, additions to the tax, and additional amounts) shall not be assessed, and if assessed the assessment shall be abated, and if collected shall be credited or refunded as an overpayment.
**(b) Supplemental proceeding** If the determination by a court that the taxpayer is liable for a second tier tax has become final, such court shall have jurisdiction to conduct any necessary supplemental proceeding to determine whether the taxable event was corrected during the correction period. Such a supplemental proceeding may be begun only during the period which ends on the 90th day after the last day of the correction period. Where such a supplemental proceeding has begun, the reference in the second sentence of section 6213(a) to a final decision of the Tax Court shall be treated as including a final decision in such supplemental proceeding.
**(c) Suspension of period of collection for second tier tax**
(1) **Proceeding in District Court or United States Court of Federal Claims** — If, not later than 90 days after the day on which the second tier tax is assessed, the first tier tax is paid in full and a claim for refund of the amount so paid is filed, no levy or proceeding in court for the collection of the second tier tax shall be made, begun, or prosecuted until a final resolution of a proceeding begun as provided in paragraph (2) (and of any supplemental proceeding with respect thereto under subsection (b)). Notwithstanding section 7421(a), the collection by levy or proceeding may be enjoined during the time such prohibition is in force by a proceeding in the proper court.
(2) **Suit must be broug
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4961
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** If the Secretary determines that there is a deficiency in respect of any tax imposed by subtitles A or B or chapter 41, 42, 43, or 44 he is authorized to send notice of such deficiency to the taxpayer by certified mail or registered mail. Such notice shall include a notice to the taxpayer of the taxpayer’s right to contact a local office of the taxpayer advocate and the location and phone number of the appropriate office.
**(b) Address for notice of deficiency**
(1) **Income and gift taxes and certain excise taxes** — In the absence of notice to the Secretary under section 6903 of the existence of a fiduciary relationship, notice of a deficiency in respect of a tax imposed by subtitle A, chapter 12, chapter 41, chapter 42, chapter 43, or chapter 44 if mailed to the taxpayer at his last known address, shall be sufficient for purposes of subtitle A, chapter 12, chapter 41, chapter 42, chapter 43, chapter 44, and this chapter even if such taxpayer is deceased, or is under a legal disability, or, in the case of a corporation, has terminated its existence.
(2) **Joint income tax return** — In the case of a joint income tax return filed by husband and wife, such notice of deficiency may be a single joint notice, except that if the Secretary has been notified by either spouse that separate residences have been established, then, in lieu of the single joint notice, a duplicate original of the joint notice shall be sent by certified mail or registered mail to each spouse at his last known address.
(3) **Estate tax** — In the absence of notice to the Secretary under section 6903 of the existence of a fiduciary relationship, notice of a deficiency in respect of a tax imposed by chapter 11, if addressed in the name of the decedent or other person subject to l
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6212
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Federal law — U.S. Code and appendices · legal_authorities
Page 3041
TITLE 26—INTERNAL REVENUE CODE
§ 4952
(A) a contributor to the trust,
(B) a trustee of the trust,
(C) an owner of more than 10 percent of—
(i) the total combined voting power of a
corporation,
(ii) the profits interest of a partnership,
or
(iii) the beneficial interest of a trust or
unincorporated enterprise,
which is a contributor to the trust,
(D) an officer, director, or employee of a
person who is a contributor to the trust,
(E) the spouse, ancestor, lineal descendant,
or spouse of a lineal descendant of an indi-
vidual described in subparagraph (A), (B),
(C), or (D),
(F) a corporation of which persons de-
scribed in subparagraph (A), (B), (C), (D), or
(E) own more than 35 percent of the total
combined voting power,
(G) a partnership in which persons de-
scribed in subparagraph (A), (B), (C), (D), or
(E), own more than 35 percent of the profits
interest, or
(H) a trust or estate in which persons de-
scribed in subparagraph (A), (B), (C), (D), or
(E), hold more than 35 percent of the bene-
ficial interest.
For purposes of subparagraphs (C)(i) and (F),
there shall be taken into account indirect
stockholdings which would be taken into ac-
count under section 267(c), except that, for
purposes of this paragraph, section 267(c)(4)
shall be treated as providing that the members
of the family of an individual are only those
individuals described in subparagraph (E) of
this paragraph. For purposes of subparagraphs
(C) (ii) and (iii), (G), and (H), the ownership of
profits or beneficial interests shall be deter-
mined in accordance with the rules for con-
structive ownership of stock provided in sec-
tion 267(c) (other than paragraph (3) thereof),
except that section 267(c)(4) shall be treated as
providing that the members of the famil
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 4952
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