Assessable penalties with respect to liability for tax under chapter 42

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition Title 26 - INTERNAL REVENUE CODE Subtitle F - Procedure and Administration CHAPTER 68 - ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES Subchapter B - Assessable Penalties PART I - GENERAL PROVISIONS Sec. 6684 - Assessable penalties with respect to liability for tax under chapter 42 From the U.S. Government Publishing Office, www.gpo.gov

§6684. Assessable penalties with respect to liability for tax under chapter 42

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.

(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 beginning after Dec. 22, 1987, see section 10712(d) of Pub. L. 100–203, set out as an Effective Date note under section 4955 of this title.

Effective Date Section effective Jan. 1, 1970, see section 101(k)(1) of Pub. L. 91–172, set out as a note under section 4940 of this title.