Page:United States Statutes at Large Volume 96 Part 1.djvu/691

 PUBLIC LAW 97-248—SEPT. 3, 1982

96 STAT. 649

"(B) the part n e r files with the Secretary a statement identifying the inconsistency, subsection (a) shall not apply to such item. "(2) P A R T N E R RECEIVING INCORRECT INFORMATION.—A part n e r

shall be treated as having complied with subparagraph (B) of paragraph (1) with respect to a partnership item if the partner— "(A) d e m o n s t r a t e s to the satisfaction of the Secretary that the t r e a t m e n t of the partnership item on the part n e r ' s r e t u r n is consistent with the t r e a t m e n t of the item on the schedule furnished to the part n e r by the partnership, and "(B) elects to have this paragraph apply with respect to that item. "(c) E F F E C T OF F A I L U R E TO N O T I F Y. — I n any case—

"(1) described in paragraph (l)(A)(i) of subsection (b), and "(2) in which the part n e r does not comply with paragraph (1)(B) of subsection (b), section 6225 shall not apply to any part of a deficiency a t t r i b u t a b l e to any computational adjustment required to m a k e the t r e a t m e n t of the items by such part n e r consistent with the t r e a t m e n t of the items on the partnership r e t u r n. "(d) ADDITION TO T A X FOR F A I L U R E TO COMPLY W I T H S E C T I O N. — "F'or addition to tax in the case of a partner's intentional or negligent disregard of requirements of this section, see section 6653(a). "SEC. 6223. NOTICE TO PARTNERS OF PROCEEDINGS. "(a) SECRETARY M U S T G IV E P A R T N E R S N O T I C E OF B E G I N N I N G A N D COMPLETION OF ADMINISTRATIVE P R O C E E D I N G S. — The Secretary shall

mail to each part n e r whose n a m e and address is furnished to the Secretary notice of— "(1) the beginning of a n administrative proceeding a t the partnership level with respect to a partnership item, and "(2) the final partnership administrative adjustment resulting from any such proceeding. A part n e r shall not be entitled to any notice under this subsection unless the Secretary has received (at least 30 days before it is mailed to the tax m a t t e r s part n e r) sufficient information to enable the Secretary to determine that such part n e r is entitled to such notice and to provide such notice to such part n e r. "(b) SPECIAL RULES FOR PARTNERSHIP W I T H M O R E T H A N 100 PARTNERS.— "(1) P A R T N E R WITH LESS THAN i PERCENT INTEREST.—Except as

provided in paragraph (2), subsection (a) shall not apply to a part n e r if— "(A) the partnership has more than 100 part n e r s, and "(B) the part n e r has a less than 1 percent interest in the profits of the partnership. "(2) SECRETARY MUST GIVE NOTICE TO NOTICE GROUP.—If a

group of part n e r s in the aggregate having a 5 percent or more interest in the profits of a partnership so request and designate one of their m e m b e r s to receive the notice, the member so designated shall be treated as a part n e r to whom subsection (a) applies. "(c) INFORMATION BASE FOR SECRETARY'S NOTICES, E T C. — For pur-

poses of this subchapter—

26 USC 6228.

�