Browse Arkansas Code titles and sections
26 U.S.C. § 6684 — Assessable penalties with respect to liability for tax under chapter 42
Federal law — U.S. Code and appendices · legal_authorities
If any person becomes liable for tax under any section of chapter 42 (relating to private foundations and certain other tax-exempt organizations) by reason of any act or failure to act which is not due to reasonable cause and either—
(1) such person has theretofore been liable for tax under such chapter, or
(2) such act or failure to act is both willful and flagrant,
then such person shall be liable for a penalty equal to the amount of such tax.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6684
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: 08b1ad39f0980e4dd34765aca566d04009d75896d89dcaed1d4d3bd43f1a8825. 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_8da1c73fd87edee4e7ae32b4
Source file: Laws/federal/codes/united-states-code/title-26/section-6684-assessable-penalties-with-respect-to-liability-for-tax-under-chapter-42--3c47d7e657.md
Pages: Not recorded – Not recorded
Passage SHA-256: e1b17fdfa40b198c421805dd88f283cbc450d9902bf113bd135c523e3abb31f6
Source location: Title 26, Chapter 68, § 6684; chapter-068-additions-to-the-tax-additional-amounts-and-assessable-penalties.md
Stored source content
If any person becomes liable for tax under any section of chapter 42 (relating to private foundations and certain other tax-exempt organizations) by reason of any act or failure to act which is not due to reasonable cause and either—
(1) such person has theretofore been liable for tax under such chapter, or
(2) such act or failure to act is both willful and flagrant,
then such person shall be liable for a penalty equal to the amount of such tax.
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) Tax-exempt foundations** There is hereby imposed on each private foundation which is exempt from taxation under section 501(a) for the taxable year, with respect to the carrying on of its activities, a tax equal to 1.39 percent of the net investment income of such foundation for the taxable year.
**(b) Taxable foundations** There is hereby imposed on each private foundation which is not exempt from taxation under section 501(a) for the taxable year, with respect to the carrying on of its activities, a tax equal to—
(1) the amount (if any) by which the sum of (A) the tax imposed under subsection (a) (computed as if such subsection applied to such private foundation for the taxable year), plus (B) the amount of the tax which would have been imposed under section 511 for the taxable year if such private foundation had been exempt from taxation under section 501(a), exceeds
(2) the tax imposed under subtitle A on such private foundation for the taxable year.
**(c) Net investment income defined**
(1) **In general** — For purposes of subsection (a), the net investment income is the amount by which (A) the sum of the gross investment income and the capital gain net income exceeds (B) the deductions allowed by paragraph (3). Except to the extent inconsistent with the provisions of this section, net investment income shall be determined under the principles of subtitle A.
(2) **Gross investment income** — For purposes of paragraph (1), the term “gross investment income” means the gross amount of income from interest, dividends, rents, payments with respect to securities loans (as defined in section 512(a)(5)), and royalties, but not including any such income to the extent included in computing the tax imposed by section 511. Such term shall also include income from s
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4940
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) Initial taxes**
(1) **On the organization** — There is hereby imposed on each political expenditure by a section 501(c)(3) organization a tax equal to 10 percent of the amount thereof. The tax imposed by this paragraph shall be paid by the organization.
(2) **On the management** — There is hereby imposed on the agreement of any organization manager to the making of any expenditure, knowing that it is a political 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 any organization manager who agreed to the making of the expenditure.
**(b) Additional taxes**
(1) **On the organization** — In any case in which an initial tax is imposed by subsection (a)(1) on a political 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 organization.
(2) **On the management** — In any case in which an additional tax is imposed by paragraph (1), if an organization manager refused to agree to part or all of the correction, there is hereby imposed a tax equal to 50 percent of the amount of the political expenditure. The tax imposed by this paragraph shall be paid by any organization manager who refused to agree to part or all of the correction.
**(c) Special rules** For purposes of subsections (a) and (b)—
(1) **Joint and several liability** — If more than 1 person is liable under subsection (a)(2) or (b)(2) with respect to the making of a political expenditure, all such persons shall be jointly and severally liable under such subsection with respect to such expenditure.
(2) **Limit for m
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4955
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 3793
TITLE 26—INTERNAL REVENUE CODE
§ 6686
[§ 6683. Repealed. Pub. L. 109–135, title IV,
§ 403(n)(3)(A), Dec. 21, 2005, 119 Stat. 2626]
Section, added Pub. L. 89–809, title I, § 104(h)(4)(A),
Nov. 13, 1966, 80 Stat. 1560; amended Pub. L. 94–455, title
XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L.
105–34, title XII, § 1281(c), Aug. 5, 1997, 111 Stat. 1037, re-
lated to failure of foreign corporation to file return of
personal holding company tax.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective as if included in the provisions of the
American Jobs Creation Act of 2004, Pub. L. 108–357, to
which it relates, see section 403(nn) of Pub. L. 109–135,
set out as an Effective Date of 2005 Amendment note
under section 26 of this title.
§ 6684. Assessable penalties with respect to liabil-
ity for tax under chapter 42
If any person becomes liable for tax under any
section of chapter 42 (relating to private founda-
tions and certain other tax-exempt organiza-
tions) by reason of any act or failure to act
which is not due to reasonable cause and ei-
ther—
(1) such person has theretofore been liable
for tax under such chapter, or
(2) such act or failure to act is both willful
and flagrant,
then such person shall be liable for a penalty
equal to the amount of such tax.
(Added Pub. L. 91–172, title I, § 101(c), Dec. 30,
1969, 83 Stat. 519; amended Pub. L. 100–203, title
X, § 10712(c)(4), Dec. 22, 1987, 101 Stat. 1330–467.)
Editorial Notes
AMENDMENTS
1987—Pub. L. 100–203 inserted ‘‘and certain other tax-
exempt organizations’’ after ‘‘private foundations’’ in
parenthetical.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1987 AMENDMENT
Amendment by Pub. L. 100–203 applicable to taxable
years begi
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 6684
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.