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26 U.S.C. § 6679 — Failure to file returns, etc., with respect to foreign corporations or foreign partnerships
Federal law — U.S. Code and appendices · legal_authorities
**(a) Civil penalty**
(1) **In general** — In addition to any criminal penalty provided by law, any person required to file a return under section 6046 or 6046A who fails to file such return at the time provided in such section, or who files a return which does not show the information required pursuant to such section, shall pay a penalty of $10,000, unless it is shown that such failure is due to reasonable cause.
(2) **Increase in penalty where failure continues after notification** — If any failure described in paragraph (1) continues for more than 90 days after the day on which the Secretary mails notice of such failure to the United States person, such person shall pay a penalty (in addition to the amount required under paragraph (1)) of $10,000 for each 30-day period (or fraction thereof) during which such failure continues after the expiration of such 90-day period. The increase in any penalty under this paragraph shall not exceed $50,000.
**(b) Deficiency procedures not to apply** Subchapter B of chapter 63 (relating to deficiency procedure for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by subsection (a).
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Stable record: federal_law:legal_authorities:record_usc_fc18132f23dd6a4b30d46139
Source file: Laws/federal/codes/united-states-code/title-26/section-6679-failure-to-file-returns-etc-with-respect-to-foreign-corporations-or-fore--f5c51f606f.md
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Source location: Title 26, Chapter 68, § 6679; chapter-068-additions-to-the-tax-additional-amounts-and-assessable-penalties.md
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**(a) Civil penalty**
(1) **In general** — In addition to any criminal penalty provided by law, any person required to file a return under section 6046 or 6046A who fails to file such return at the time provided in such section, or who files a return which does not show the information required pursuant to such section, shall pay a penalty of $10,000, unless it is shown that such failure is due to reasonable cause.
(2) **Increase in penalty where failure continues after notification** — If any failure described in paragraph (1) continues for more than 90 days after the day on which the Secretary mails notice of such failure to the United States person, such person shall pay a penalty (in addition to the amount required under paragraph (1)) of $10,000 for each 30-day period (or fraction thereof) during which such failure continues after the expiration of such 90-day period. The increase in any penalty under this paragraph shall not exceed $50,000.
**(b) Deficiency procedures not to apply** Subchapter B of chapter 63 (relating to deficiency procedure for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by subsection (a).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Wage withholding for income tax purposes**
(1) **In general** — The amount withheld as tax under chapter 24 shall be allowed to the recipient of the income as a credit against the tax imposed by this subtitle.
(2) **Year of credit** — The amount so withheld during any calendar year shall be allowed as a credit for the taxable year beginning in such calendar year. If more than one taxable year begins in a calendar year, such amount shall be allowed as a credit for the last taxable year so beginning.
**(b) Credit for special refunds of social security tax**
(1) **In general** — The Secretary may prescribe regulations providing for the crediting against the tax imposed by this subtitle of the amount determined by the taxpayer or the Secretary to be allowable under section 6413(c) as a special refund of tax imposed on wages. The amount allowed as a credit under such regulations shall, for purposes of this subtitle, be considered an amount withheld at source as tax under section 3402.
(2) **Year of credit** — Any amount to which paragraph (1) applies shall be allowed as a credit for the taxable year beginning in the calendar year during which the wages were received. If more than one taxable year begins in the calendar year, such amount shall be allowed as a credit for the last taxable year so beginning.
**(c) Special rule for backup withholding** Any credit allowed by subsection (a) for any amount withheld under section 3406 shall be allowed for the taxable year of the recipient of the income in which the income is received.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 31
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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
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Information with respect to property acquired from decedents**
(1) **In general** — The executor of any estate required to file a return under section 6018(a) shall furnish to the Secretary and to each person acquiring any interest in property included in the decedent’s gross estate for Federal estate tax purposes a statement identifying the value of each interest in such property as reported on such return and such other information with respect to such interest as the Secretary may prescribe.
(2) **Statements by beneficiaries** — Each person required to file a return under section 6018(b) shall furnish to the Secretary and to each other person who holds a legal or beneficial interest in the property to which such return relates a statement identifying the information described in paragraph (1).
(3) **Time for furnishing statement**
(A) *In general* — Each statement required to be furnished under paragraph (1) or (2) shall be furnished at such time as the Secretary may prescribe, but in no case at a time later than the earlier of—
(i) the date which is 30 days after the date on which the return under section 6018 was required to be filed (including extensions, if any), or
(ii) the date which is 30 days after the date such return is filed.
(B) *Adjustments* — In any case in which there is an adjustment to the information required to be included on a statement filed under paragraph (1) or (2) after such statement has been filed, a supplemental statement under such paragraph shall be filed not later than the date which is 30 days after such adjustment is made.
**(b) Regulations** The Secretary shall prescribe such regulations as necessary to carry out this section, including regulations relating to—
(1) the application of this section to propert
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6035
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of—
(1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and
(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000.
**(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000.
**(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Participation**
(1) **Minimum age and service conditions**
(A) *General rule* — A trust shall not constitute a qualified trust under section 401(a) if the plan of which it is a part requires, as a condition of participation in the plan, that an employee complete a period of service with the employer or employers maintaining the plan extending beyond the later of the following dates—
(i) the date on which the employee attains the age of 21; or
(ii) the date on which he completes 1 year of service.
(B) *Special rules for certain plans*
(i) In the case of any plan which provides that after not more than 2 years of service each participant has a right to 100 percent of his accrued benefit under the plan which is nonforfeitable (within the meaning of section 411) at the time such benefit accrues, clause (ii) of subparagraph (A) shall be applied by substituting “2 years of service” for “1 year of service”.
(ii) In the case of any plan maintained exclusively for employees of an educational institution (as defined in section 170(b)(1)(A)(ii)) by an employer which is exempt from tax under section 501(a) which provides that each participant having at least 1 year of service has a right to 100 percent of his accrued benefit under the plan which is nonforfeitable (within the meaning of section 411) at the time such benefit accrues, clause (i) of subparagraph (A) shall be applied by substituting “26” for “21”. This clause shall not apply to any plan to which clause (i) applies.
(2) **Maximum age conditions** — A trust shall not constitute a qualified trust under section 401(a) if the plan of which it is a part excludes from participation (on the basis of age) employees who have attained a specified age.
(3) **Definition of year of service**
(A)
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 410
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement of return**
(1) **In general** — A return complying with the requirements of subsection (b) shall be made by—
(A) each United States citizen or resident who becomes an officer or director of a foreign corporation if a United States person (as defined in section 7701(a)(30)) meets the stock ownership requirements of paragraph (2) with respect to such corporation,
(B) each United States person—
(i) who acquires stock which, when added to any stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation, or
(ii) who acquires stock which, without regard to stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation,
(C) each person (not described in subparagraph (B)) who is treated as a United States shareholder under section 953(c) with respect to a foreign corporation, and
(D) each person who becomes a United States person while meeting the stock ownership requirements of paragraph (2) with respect to stock of a foreign corporation.
In the case of a foreign corporation with respect to which any person is treated as a United States shareholder under section 953(c), subparagraph (A) shall be treated as including a reference to each United States person who is an officer or director of such corporation.
(2) **Stock ownership requirements** — A person meets the stock ownership requirements of this paragraph with respect to any corporation if such person owns 10 percent or more of—
(A) the total combined voting power of all classes of stock of such corporation entitled to vote, or
(B) the total value of the stock of such corporation.
**(b) Form and contents of returns** The
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6046
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement of return** Any United States person, except to the extent otherwise provided by regulations—
(1) who acquires any interest in a foreign partnership,
(2) who disposes of any portion of his interest in a foreign partnership, or
(3) whose proportional interest in a foreign partnership changes substantially,
shall file a return. Paragraphs (1) and (2) shall apply to any acquisition or disposition only if the United States person directly or indirectly holds at least a 10-percent interest in such partnership either before or after such acquisition or disposition, and paragraph (3) shall apply to any change only if the change is equivalent to at least a 10-percent interest in such partnership.
**(b) Form and contents of return** Any return required by subsection (a) shall be in such form and set forth such information as the Secretary shall by regulations prescribe.
**(c) Time for filing return** Any return required by subsection (a) shall be filed on or before the 90th day (or on or before such later day as the Secretary may by regulations prescribe) after the day on which the United States person becomes liable to file such return.
**(d) 10-percent interest** For purposes of subsection (a), a 10-percent interest in a partnership is an interest described in section 6038(e)(3)(C).
**(e) Cross reference** For provisions relating to penalties for violations of this section, see sections 6679 and 7203.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6046A
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Federal law — U.S. Code and appendices · legal_authorities
Page 3791
TITLE 26—INTERNAL REVENUE CODE
§ 6679
221(b)(3), Feb. 26, 1964, 78 Stat. 37, 75; Pub. L. 94–455,
title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub.
L. 96–167, § 7(b)(2), Dec. 29, 1979, 93 Stat. 1277; Pub. L.
97–34, title VII, § 723(a)(2), (b)(2), Aug. 13, 1981, 95 Stat.
343, 344; Pub. L. 97–248, title III, §§ 309(b)(3), 311(a)(2),
312(b), 314(b), 315(c), Sept. 3, 1982, 96 Stat. 595, 600, 602,
605, 607; Pub. L. 97–448, title II, § 201(i)(3), Jan. 12, 1983,
96 Stat. 2395; Pub. L. 98–67, title I, § 105(b)(2), Aug. 5,
1983, 97 Stat. 381; Pub. L. 98–369, div. A, title I,
§§ 145(b)(3), 146(b)(3), 148(b)(3), 149(b)(2), (3), 155(b)(2)(B),
title VII, § 714(f), (q)(3), July 18, 1984, 98 Stat. 685, 686,
689, 690, 693, 961, 966; Pub. L. 99–514, title XVIII,
§ 1811(c)(1), Oct. 22, 1986, 100 Stat. 2833, related to pen-
alties for failure to furnish certain statements.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal applicable to returns the due date for which
(determined without regard to extensions) is after Dec.
31, 1986, see section 1501(e) of Pub. L. 99–514, set out as
an Effective Date note under section 6721 of this title.
§ 6679. Failure to file returns, etc., with respect
to foreign corporations or foreign partner-
ships
(a) Civil penalty
(1) In general
In addition to any criminal penalty provided
by law, any person required to file a return
under section 6046 or 6046A who fails to file
such return at the time provided in such sec-
tion, or who files a return which does not show
the information required pursuant to such sec-
tion, shall pay a penalty of $10,000, unless it is
shown that such failure is due to reasonable
cause.
(2) Increase in penalty where failure continues
after notification
If any
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 6679
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