Page:United States Statutes at Large Volume 95.djvu/369

 PUBLIC LAW 97-34—AUG. 13, 1981

95 STAT. 343

negligence or intentional disregard referred to in paragraph (l),and "(B) for the period beginning on the last date prescribed by law for payment of such underpayment (determined without regard to any extension) and ending on the date of the assessment of the tax." (2) EFFECTIVE DATE.—The amendment made by paragraph (1) 26 USC 6653 shall apply to taxes the last date prescribed for payment of which ^°^^is after December 31, 1981. SEC. 723. CHANGES IN REQUIREMENTS RELATING TO INFORMATION RETURNS. (a) INCREASES IN PENALTIES FOR FAILURE TO FILE CERTAIN RETURNS OR FURNISH CERTAIN STATEMENTS.— (1) CERTAIN RETURNS.—Paragraph (1) of section 6652(a) (relat-

26 USC 6652.

ing to failure to file certain information returns, registration statements, etc.) is amended to read as follows: "(1) to file a statement of the aggregate amount of payments to another person required by— "(A) section 6041(a) or (b) (relating to certain information at source), "(B) section 6042(a)(1) (relating to payments of dividends aggregating $10 or more), "(C) section 6044(a)(1) (relating to payments of patronage dividends aggregating $10 or more), "(D) section 6049(a)(1) (relating to payments of interest aggregating $10 or more), "(E) section 6050A(a) (relating to reporting requirements of certain fishing boat operators), or "(F) section 6051(d) (relating to information returns with respect to income tax withheld), or". (2) CERTAIN STATEMENTS.—Section 6678 (relating to failure to 26 USC 6678. furnish certain statements) is amended by striking out "or" at the end of paragraph (1), by inserting "or" at the end of paragraph (2), and by inserting after paragraph (2) the following new paragraph: "(3) to furnish a statement under— "(A) section 6050A(b) (relating to statements furnished by certain fishing boat operators), "(B) section 6050C (relating to information regarding windfall profit tax on crude oil), "(C) section 6051 (relating to information returns with respect to income tax withheld) if the statement is required to be furnished to the employee, or "(D) section 6053(b) (relating to statements furnished by employers with respect to tips), on the date prescribed therefor to a person with respect to whom such a statement is required,". (3) RETENTION OF EXISTING PENALTIES FOR FAILURE TO FILE

CERTAIN STATEMENTS.—Subsection (b) of section 6652 is amended 26 USC 6652. to read as follows: "(b) OTHER RETURNS.—In the case of each failure to file a statement of a payment to another person required under the authority of^ "(1) section 6042(a)(2) (relating to payments of dividends aggregating less than $10), "(2) section 6044(a)(2) (relating to payments of patronage dividends aggregating less than $10),

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