Penalty for failure to furnish information return: daily monetary penalty accrues until compliance, subject to a statutory cap. Where a person required to submit an information return under a notice-based deadline fails to do so within the period specified, the proper officer may direct imposition of a daily monetary penalty for each day the default continues, subject to a maximum statutory ceiling.
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Provisions expressly mentioned in the judgment/order text.
Penalty for failure to furnish information return: daily monetary penalty accrues until compliance, subject to a statutory cap.
Where a person required to submit an information return under a notice-based deadline fails to do so within the period specified, the proper officer may direct imposition of a daily monetary penalty for each day the default continues, subject to a maximum statutory ceiling.
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