Page:United States Statutes at Large Volume 96 Part 1.djvu/649

 PUBLIC LAW 97-248—SEPT. 3, 1982

96 STAT. 607

(c) INCREASE IN CIVIL PENALTY FOR FAILURE TO FURNISH CERTAIN

STATEMENTS.—Section 6678 (relating to failure to furnish certain statements) is amended— (1) by striking out "$10" and inserting in lieu thereof "$50", and (2) by striking out "$25,000" and inserting in lieu thereof "$50,000". (d) EFFECTIVE DATE.—The amendments made by this section shall apply with respect to returns or statements the due date for the filing of which (without regard to extensions) is after December 31, 1982. SEC. 316. INCREASE IN CIVIL PENALTY ON FAILURE TO SUPPLY IDENTIFYING NUMBERS. (a) IN GENERAL.—Subsection (a) of section 6676 (relating to failure to supply identifying numbers) is amended to read as follows:

26 USC 6678.

26 USC 6652 "°*®-

26 USC 6676.

"(a) CIVIL PENALTIES.—

"(1) IN GENERAL.—If any person who is required by regulations prescribed under section 6109— "(A) to include his taxpayer identification number in any return, statement, or other document, "(B) to furnish his taxpayer identification number to another person, or "(C) to include in any return, statement, or other document made with respect to another person the taxpayer identification number of such other person, fails to comply with such requirement at the time prescribed by such regulations, such person shall, unless it is shown that such failure is due to reasonable cause and not to willful neglect, pay a penalty of $5 for each such failure described in subparagraph (A) and $50 for each such failure described in subparagraph (B) or (C), except that the total amount imposed on such person for all such failures during any calendar year shall not exceed $50,000. "(2) TAXPAYER IDENTIFICATION NUMBER DEFINED.—The term 'taxpayer identification number' means the identifying number assigned to a person under section 6109." (b) EFFECTIVE DATE.—The amendments made by this section shall 26 USC 6676 apply with respect to returns the due date for the filing of which "°^®(without regard to extensions) is after December 31, 1982. SEC. 317. EXTENSION OF WITHHOLDING TO CERTAIN PAYMENTS WHERE IDENTIFYING NUMBER NOT FURNISHED OR INACCURATE. (a) IN GENERAL.—Section 3402 (relating to withholding at source) 26 USC 3402. is amended by adding at the end thereof the following new subsection: "(s) EXTENSION OF WITHHOLDING TO CERTAIN PAYMENTS WHERE IDENTIFYING NUMBER NOT FURNISHED OR INACCURATE.—

"(1) IN GENERAL.—If, in the case of any backup withholding payment— "(A) the payee fails to furnish his taxpayer identification number to the payor, or "(B) the Secretary notifies the payor that the number furnished by the payee is incorrect, then the payor shall deduct and withhold from such payment a tax equal to 15 percent of such payment. "(2) PERIOD FOR WHICH WITHHOLDING IS IN EFFECT.—

�