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<h1>Penalty for failure to furnish information return: daily liability may be imposed, subject to a statutory cap and officer direction.</h1> Where a person required to furnish an information return under section 150 fails to do so within the notice-specified period, the proper officer may direct that the person be liable to a daily penalty for each day of non-furnishing, subject to an overall statutory ceiling; the provision links officer direction to notice-period non-compliance and caps aggregate liability.