§ 6723.
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].)