Penalty for failure to furnish information return: daily penalty may be directed by proper officer if notice period is not complied with. Where a person required to furnish an information return fails to do so within the period specified in the notice, the proper officer may direct that the ... Summary
Penalty for failure to furnish information return: daily penalty may be directed by proper officer if notice period is not complied with.
Where a person required to furnish an information return fails to do so within the period specified in the notice, the proper officer may direct that the person be liable to pay a daily penalty for each day the failure continues, subject to an overall statutory maximum cap.
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