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26 U.S.C. § 6222 — Partner’s return must be consistent with partnership return

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6222 — Partner’s return must be consistent with partnership return

**(a) In general** A partner shall, on the partner’s return, treat any partnership-related item in a manner which is consistent with the treatment of such item on the partnership return. **(b) Underpayment due to inconsistent treatment assessed as math error** Any underpayment of tax by a partner by reason of failing to comply with the requirements of subsection (a) shall be assessed and collected in the same manner as if such underpayment were on account of a mathematical or clerical error appearing on the partner’s return. Paragraph (2) of section 6213(b) shall not apply to any assessment of an underpayment referred to in the preceding sentence. **(c) Exception for notification of inconsistent treatment** (1) **In general** — In the case of any item referred to in subsection (a), if— (A) (i) the partnership has filed a return but the partner’s treatment on the partner’s return is (or may be) inconsistent with the treatment of the item on the partnership return, or (ii) the partnership has not filed a return, and (B) the partner files with the Secretary a statement identifying the inconsistency, subsections (a) and (b) shall not apply to such item. (2) **Partner receiving incorrect information** — A partner shall be treated as having complied with subparagraph (B) of paragraph (1) with respect to an item if the partner— (A) demonstrates to the satisfaction of the Secretary that the treatment of the item on the partner’s return is consistent with the treatment of the item on the statement furnished to the partner by the partnership, and (B) elects to have this paragraph apply with respect to that item. **(d) Final decision on certain positions not binding on partnership** Any final decision with respect to an inconsistent position identified

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Source location: Title 26, Chapter 63, § 6222; chapter-063-assessment.md

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6221 — Determination at partnership level

**(a) In general** Any adjustment to a partnership-related item shall be determined, and any tax attributable thereto shall be assessed and collected, and the applicability of any penalty, addition to tax, or additional amount which relates to an adjustment to any such item shall be determined, at the partnership level, except to the extent otherwise provided in this subchapter. **(b) Election out for certain partnerships with 100 or fewer partners, etc.** (1) **In general** — This subchapter shall not apply with respect to any partnership for any taxable year if— (A) the partnership elects the application of this subsection for such taxable year, (B) for such taxable year the partnership is required to furnish 100 or fewer statements under section 6031(b) with respect to its partners, (C) each of the partners of such partnership is an individual, a C corporation, any foreign entity that would be treated as a C corporation were it domestic, an S corporation, or an estate of a deceased partner, (D) the election— (i) is made with a timely filed return for such taxable year, and (ii) includes (in the manner prescribed by the Secretary) a disclosure of the name and taxpayer identification number of each partner of such partnership, and (E) the partnership notifies each such partner of such election in the manner prescribed by the Secretary. (2) **Special rules relating to certain partners** (A) *S corporation partners* — In the case of a partner that is an S corporation— (i) the partnership shall only be treated as meeting the requirements of paragraph (1)(C) with respect to such partner if such partnership includes (in the manner prescribed by the Secretary) a disclosure of the name and taxpayer identification number of each person with

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6031 — Return of partnership income

**(a) General rule** Every partnership (as defined in section 761(a)) shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowable by subtitle A, and such other information, for the purpose of carrying out the provisions of subtitle A as the Secretary may by forms and regulations prescribe, and shall include in the return the names and addresses of the individuals who would be entitled to share in the taxable income if distributed and the amount of the distributive share of each individual. **(b) Copies to partners** Each partnership required to file a return under subsection (a) for any partnership taxable year shall (on or before the day on which the return for such taxable year was required to be filed) furnish to each person who is a partner or who holds an interest in such partnership as a nominee for another person at any time during such taxable year a copy of such information required to be shown on such return as may be required by regulations. Information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates, except— (1) in the case of a partnership which has elected the application of section 6221(b) for the taxable year, (2) as provided in the procedures under section 6225(c), (3) with respect to statements under section 6226, or (4) as otherwise provided by the Secretary. **(c) Nominee reporting** Any person who holds an interest in a partnership as a nominee for another person— (1) shall furnish to the partnership, in the manner prescribed by the Secretary, the name and address of such other person, and any other information for such taxable year as the Secretary may by f

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6653 — Failure to pay stamp tax

Any person (as defined in section 6671(b)) who— (1) willfully fails to pay any tax imposed by this title which is payable by stamp, coupons, tickets, books, or other devices or methods prescribed by this title or by regulations under the authority of this title, or (2) willfully attempts in any manner to evade or defeat any such tax or the payment thereof, shall, in addition to other penalties provided by law, be liable for a penalty of 50 percent of the total amount of the underpayment of the tax.

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6222 — Partner’s return must be consistent with

Page 3535 TITLE 26—INTERNAL REVENUE CODE § 6223 shall be determined, at the partnership level pursuant to this subchapter.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2018 AMENDMENT Amendment by Pub. L. 115–141 effective as if included in section 1101 of Pub. L. 114–74, see section 207 of Pub. L. 115–141, set out as a note under section 6031 of this title. EFFECTIVE DATE Pub. L. 114–74, title XI, § 1101(g), Nov. 2, 2015, 129 Stat. 638, provided that: ‘‘(1) IN GENERAL.—Except as otherwise provided in this subsection, the amendments made by this section [enacting this subchapter, amending sections 6031, 6330, 6422, 6501, 6503, 6504, 6511, 6512, 6515, 6601, 7421, 7422, 7459, 7482, and 7485 of this title, and repealing this sub- chapter, subchapter D of this chapter, and part IV of subchapter K of chapter 1 of this title] shall apply to returns filed for partnership taxable years beginning after December 31, 2017. ‘‘(2) ADMINISTRATIVE ADJUSTMENT REQUESTS.—In the case of [an] administrative adjustment request under section 6227 of such Code [Internal Revenue Code of 1986], the amendments made by this section shall apply to requests with respect to returns filed for partnership taxable years beginning after December 31, 2017. ‘‘(3) ADJUSTED PARTNERS STATEMENTS.—In the case of a partnership electing the application of section 6226 of such Code, the amendments made by this section shall apply to elections with respect to returns filed for part- nership taxable years beginning after December 31, 2017. ‘‘(4) ELECTION.—A partnership may elect (at such time and in such form and manner as the Secretary of the Treasury may prescribe) for the amendments made by this section (other than the election under section 6221(b) of such Code (a

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