Browse Arkansas Code titles and sections
26 U.S.C. § 7408 — Actions to enjoin specified conduct related to tax shelters and reportable transactions
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to seek injunction** A civil action in the name of the United States to enjoin any person from further engaging in specified conduct may be commenced at the request of the Secretary. Any action under this section shall be brought in the district court of the United States for the district in which such person resides, has his principal place of business, or has engaged in specified conduct. The court may exercise its jurisdiction over such action (as provided in section 7402(a)) separate and apart from any other action brought by the United States against such person.
**(b) Adjudication and decree** In any action under subsection (a), if the court finds—
(1) that the person has engaged in any specified conduct, and
(2) that injunctive relief is appropriate to prevent recurrence of such conduct,
the court may enjoin such person from engaging in such conduct or in any other activity subject to penalty under this title.
**(c) Specified conduct** For purposes of this section, the term “specified conduct” means any action, or failure to take action, which is—
(1) subject to penalty under section 6700, 6701, 6707, or 6708, or
(2) in violation of any requirement under regulations issued under [section 330 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section330&num=0&edition=prelim), United States Code.
**(d) Citizens and residents outside the United States** If any citizen or resident of the United States does not reside in, and does not have his principal place of business in, any United States judicial district, such citizen or resident shall be treated for purposes of this section as residing in the District of Columbia.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7408
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 3d8d38bdf86e56c208744b573b134bb9c1ec65a404f00465614ae33b964a3501. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_71f2b403432b35f3a43a3db0
Source file: Laws/federal/codes/united-states-code/title-26/section-7408-actions-to-enjoin-specified-conduct-related-to-tax-shelters-and-reportab--2e0d85eac7.md
Pages: Not recorded – Not recorded
Passage SHA-256: faf9534437d0200af6f43919ed24429167e6a6d412402b30bc3e4688b8a8b8a3
Source location: Title 26, Chapter 76, § 7408; chapter-076-judicial-proceedings.md
Stored source content
**(a) Authority to seek injunction** A civil action in the name of the United States to enjoin any person from further engaging in specified conduct may be commenced at the request of the Secretary. Any action under this section shall be brought in the district court of the United States for the district in which such person resides, has his principal place of business, or has engaged in specified conduct. The court may exercise its jurisdiction over such action (as provided in section 7402(a)) separate and apart from any other action brought by the United States against such person.
**(b) Adjudication and decree** In any action under subsection (a), if the court finds—
(1) that the person has engaged in any specified conduct, and
(2) that injunctive relief is appropriate to prevent recurrence of such conduct,
the court may enjoin such person from engaging in such conduct or in any other activity subject to penalty under this title.
**(c) Specified conduct** For purposes of this section, the term “specified conduct” means any action, or failure to take action, which is—
(1) subject to penalty under section 6700, 6701, 6707, or 6708, or
(2) in violation of any requirement under regulations issued under [section 330 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section330&num=0&edition=prelim), United States Code.
**(d) Citizens and residents outside the United States** If any citizen or resident of the United States does not reside in, and does not have his principal place of business in, any United States judicial district, such citizen or resident shall be treated for purposes of this section as residing in the District of Columbia.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Subject to [section 500 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section500&num=0&edition=prelim), the Secretary of the Treasury may—
(1) regulate the practice of representatives of persons before the Department of the Treasury; and
(2) before admitting a representative to practice, require that the representative demonstrate—
(A) good character;
(B) good reputation;
(C) necessary qualifications to enable the representative to provide to persons valuable service; and
(D) competency to advise and assist persons in presenting their cases.
**(b)** Any enrolled agents properly licensed to practice as required under rules promulgated under subsection (a) shall be allowed to use the credentials or designation of “enrolled agent”, “EA”, or “E.A.”.
**(c)** After notice and opportunity for a proceeding, the Secretary may suspend or disbar from practice before the Department, or censure, a representative who—
(1) is incompetent;
(2) is disreputable;
(3) violates regulations prescribed under this section; or
(4) with intent to defraud, willfully and knowingly misleads or threatens the person being represented or a prospective person to be represented.
The Secretary may impose a monetary penalty on any representative described in the preceding sentence. If the representative was acting on behalf of an employer or any firm or other entity in connection with the conduct giving rise to such penalty, the Secretary may impose a monetary penalty on such employer, firm, or entity if it knew, or reasonably should have known, of such conduct. Such penalty shall not exceed the gross income derived (or to be derived) from the conduct giving rise to the penalty and may be in addition to, or in lieu of, any suspension, disbarmen
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 330
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
(1) For provisions for collecting taxes in general, see chapter 64.
(2) For venue in a civil action for the collection of any tax, see [section 1396 of Title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1396&num=0&edition=prelim) of the United States Code.
(3) For venue of a proceeding for the recovery of any fine, penalty, or forfeiture, see [section 1395 of Title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1395&num=0&edition=prelim) of the United States Code.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7410
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Imposition of penalty** Any person who—
(1)
(A) organizes (or assists in the organization of)—
(i) a partnership or other entity,
(ii) any investment plan or arrangement, or
(iii) any other plan or arrangement, or
(B) participates (directly or indirectly) in the sale of any interest in an entity or plan or arrangement referred to in subparagraph (A), and
(2) makes or furnishes or causes another person to make or furnish (in connection with such organization or sale)—
(A) a statement with respect to the allowability of any deduction or credit, the excludability of any income, or the securing of any other tax benefit by reason of holding an interest in the entity or participating in the plan or arrangement which the person knows or has reason to know is false or fraudulent as to any material matter, or
(B) a gross valuation overstatement as to any material matter,
shall pay, with respect to each activity described in paragraph (1), a penalty equal to $1,000 or, if the person establishes that it is lesser, 100 percent of the gross income derived (or to be derived) by such person from such activity. For purposes of the preceding sentence, activities described in paragraph (1)(A) with respect to each entity or arrangement shall be treated as a separate activity and participation in each sale described in paragraph (1)(B) shall be so treated. Notwithstanding the first sentence, if an activity with respect to which a penalty imposed under this subsection involves a statement described in paragraph (2)(A), the amount of the penalty shall be equal to 50 percent of the gross income derived (or to be derived) from such activity by the person on which the penalty is imposed.
**(b) Rules relating to penalty for gross valuation overstatements**
(1
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6700
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 3875
TITLE 26—INTERNAL REVENUE CODE
§ 7409
an Effective Date of 1976 Amendment note under sec-
tion 7701 of this title.
§ 7408. Actions to enjoin specified conduct re-
lated to tax shelters and reportable trans-
actions
(a) Authority to seek injunction
A civil action in the name of the United
States to enjoin any person from further engag-
ing in specified conduct may be commenced at
the request of the Secretary. Any action under
this section shall be brought in the district
court of the United States for the district in
which such person resides, has his principal
place of business, or has engaged in specified
conduct. The court may exercise its jurisdiction
over such action (as provided in section 7402(a))
separate and apart from any other action
brought by the United States against such per-
son.
(b) Adjudication and decree
In any action under subsection (a), if the court
finds—
(1) that the person has engaged in any speci-
fied conduct, and
(2) that injunctive relief is appropriate to
prevent recurrence of such conduct,
the court may enjoin such person from engaging
in such conduct or in any other activity subject
to penalty under this title.
(c) Specified conduct
For purposes of this section, the term ‘‘speci-
fied conduct’’ means any action, or failure to
take action, which is—
(1) subject to penalty under section 6700,
6701, 6707, or 6708, or
(2) in violation of any requirement under
regulations issued under section 330 of title 31,
United States Code.
(d) Citizens and residents outside the United
States
If any citizen or resident of the United States
does not reside in, and does not have his prin-
cipal place of business in, any United States ju-
dicial district, such citizen or resident shall be
treated for purposes of this
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 7408
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.