Page:United States Statutes at Large Volume 116 Part 2.djvu/180

 116 STAT. 962 PUBLIC LAW 107-210—AUG. 6, 2002 by striking "section 6103(n)" and inserting "subsection (1)(18) or (n) of section 6103". (c) INFORMATION REPORTING. — (1) IN GENERAL. —Subpart B of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 (relating to information concerning transactions with other persons) is amended by inserting after section 6050S the following new section: 26 USC 6050T. "SEC. 6050T. RETURNS RELATING TO CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS. "(a) REQUIREMENT OF REPORTING.— Every person who is entitled to receive payments for any month of any calendar year under section 7527 (relating to advance payment of credit for health insurance costs of eligible individuals) with respect to any certified individual (as defined in section 7527(c)) shall, at such time as the Secretary may prescribe, make the return described in subsection (b) with respect to each such individual. "(b) FORM AND MANNER OF RETURNS. —^A return is described in this subsection if such return— "(1) is in such form as the Secretary may prescribe, and "(2) contains— "(A) the name, address, and TIN of each individual referred to in subsection (a), "(B) the number of months for which amounts were entitled to be received with respect to such individual under section 7527 (relating to advance payment of credit for health insurance costs of eligible individuals), "(C) the amount entitled to be received for each such month, and "(D) such other information as the Secretary may prescribe. "(c) STATEMENTS TO BE FURNISHED TO INDIVIDUALS WITH RESPECT TO WHOM INFORMATION IS REQUIRED. —Every person required to make a return under subsection (a) shall furnish to each individual whose name is required to be set fortii in such return a written statement showing— "(1) the name and address of the person required to make such return and the phone number of the information contact for such person, and "(2) the information required to be shown on the return with respect to such individual. Deadline. The written statement required under the preceding sentence shall be furnished on or before January 31 of the year following the calendar year for which the return under subsection (a) is required to be made.". (2) ASSESSABLE PENALTIES.— 26 USC 6724. (A) Subparagraph (B) of section 6724(d)( 1) of such Code (relating to definitions) is amended by redesignating clauses (xi) through (xvii) as clauses (xii) through (xviii), respectively, and by inserting after clause (x) the following new clause: "(xi) section 6050T (relating to returns relating to credit for health insurance costs of eligible individuals),". (B) Paragraph (2) of section 6724(d) of such Code is amended by striking "or" at the end of subparagraph (Z),

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