26 U.S.C. § 6723

Failure to comply with other information reporting requirements

In the case of a failure by any person to comply with a specified information reporting requirement on or before the time prescribed therefor, such person shall pay a penalty of $50 for each such failure, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $100,000.

(Added Pub. L. 99–514, title XV, § 1501(a) , Oct. 22, 1986 , 100 Stat. 2733 ; amended Pub. L. 101–239, title VII, § 7711(a) , Dec. 19, 1989 , 103 Stat. 2390 .)