96 STAT. 606
Ante, p. 592. Ante, pp. 587, ^^^ Ante, p. 601. Ante, p. 600.
PUBLIC LAW 97-248—SEPT. 3, 1982 "(1) IN GENERAL.—In the case of each failure— "(A) to file a statement of the amount of payments to another person required by— "(i) section 6041(a) or (b) (relating to certain information at source), "(ii) section 6042(a)(1) (relating to payments of dividends), "(iii) section 6044(a)(1) (relating to payments of patronage dividends), "(iv) section 6049(a) (relating to payments of interest), "(v) section 6050A(a) (relating to reporting requirements of certain fishing boat operators), or "(vi) section 6042(e), 6044(0, 6049(e), or 6051(d) (relating to information returns with respect to income tax withheld), or "(B) to make a return required by— "(i) subsection (a) or 0)) of section 6041A (relating to returns of direct sellers). "(ii) section 6045 (relating to returns of brokers), "(iii) section 6052(a) (relating to reporting payment of wages in the form of group term life insurance), or
- (iv) section 6053(c)(l) (relating to reporting with
respect to certain tips), on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid (upon notice and demand by the Secretary and in the same manner as tax), by the person failing to file a statement referred to in subparagraph (A) or failing to make a return referred to in subparagraph (B), $50 for each such failure, but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $50,000. "(2) PENALTY IN CASE OP INTENTIONAL DISREGARD.—If 1 or
more failures to which paragraph (1) applies are due to intentional disregard of the filing requirement, then with respect to such failures— "(A) the penalty imposed under paragraph (1) shall not be less than an amount equal to— "(i) in the case of a return not described in clauses (ii) and (iii), 10 percent of the aggregate amount of the items required to be reported, "(ii) in the case of a return required to be filed by section 6045, 5 percent of the gross proceeds required to be reported, and "(iii) in the case of a return required to be filed by section 6041A01)), $100 for each such failure, and "(B) the $50,000 limitation under paragraph (1) shall not apply." (b) INCREASE IN ADDITION TO TAX FOR FAILURE To FILE CERTAIN RETURNS OR STATEMENTS IN CONNECTION WITH PLANS OF DEFERRED
26 USC 6652.
COMPENSATION.—Subsection (0 of section 6652 (relating to information required in connection with certain plans of deferred compensation) is amended— (1) by striking out "$10" and inserting in lieu thereof "$25", and (2) by striking out "$5,000" and inserting in lieu thereof "$15,000".
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