9 0 STAT. 1692
PUBLIC LAW 94-455—OCT. 4, 1976
July 1 of each year, except that the first r e t u r n period shall be the 6-month period beginning on January 1, 1977, and ending on June 30, 1977." (f) OTHER ASSESSABLE PENALTIES W I T H RESPECT TO THE PREPARATION OF INCOME T A X R E T U R N S FOR OTHER P E R S O N S. — Subchapter B of
26 USC 6695.
chapter 68 (relating to assessable penalties) is amended by a d d i n g a t the end thereof the following new sections: "SEC. 6695. OTHER ASSESSABLE PENALTIES WITH RESPECT TO THE PREPARATION OF INCOME TAX RETURNS FOR OTHER PERSONS. "(a)
Ante, p. 1690.
Regulations.
FAILURE To F U R N I S H COPY TO TAXPAYER.—Any person who
is an income tax r e t u r n p r e p a r e r with respect to any return or claim for refund who fails to comply with section 6107(a) with respect to such return or claim shall p a y a penalty of $25 for such failure, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. " (b) FAILURE To SiGN RETURN.—Any persou who is an income tax r e t u r n preparer with respect to any return or claim for refund, w h o is required by regulations prescribed by the Secretary to sign such r e t u r n or claim, and who fails to comply with such regulations with respect to such r e t u r n or claim shall p a y a penalty of $25 for such failure, unless i t is shown that such failure is due to reasonable cause and not due to willful neglect. " (c) F A I L U R E To F U R N I S H IDENTIFYING N U M B E R. — Any person who
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is a n income tax r e t u r n p r e p a r e r with respect to any r e t u r n o r claim for refund and who fails to comply with section 6109(a)(4) w i t h respect to such r e t u r n or claim shall p a y a penalty of $25 for such failure, unless i t is shown that such failure is due to reasonable cause and not due to willful neglect. "(d)
F A I L U R E To R E T A I N COPY OR L I S T. — Any person w h o is a n
income tax return p r e p a r e r with respect to any r e t u r n or claim for refund who fails to comply with section 6107(b) with respect to such r e t u r n or claim shall p a y a penalty of $50 for each such failure, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The maximum penalty imposed under this subsection on any person with respect to any return period shall not exceed $25,000. ^
26 USC 1.
" (e) F A I L U R E To F I L E CORRECT INFORMATION R E T U R N. — Any person
required to make a r e t u r n under section 6060 who fails to comply with the requirements of such section shall pay a penalty of— " (1) $100 for each failure to file a return as required under such section, and " (2) $5 for each failure to set forth an item in the return as required under such section, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The maximum penalty imposed under this subsection on any person with respect to any return period shall not exceed $20,000. " (f) NEGOTIATION OF C H E C K. — Any person w h o is an income tax r e t u r n p r e p a r e r w h o endorses or otherwise negotiates (directly o r through a n agent) any check made in respect of the taxes imposed by subtitle A which is issued to a tax p a y e r (other than the income tax r e t u r n p r e p a r e r) shall p a y a penalty of $500 with respect to each such check.
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