FAILURE TO FILE CERTAIN INFORMATION RETURNS.

SEC. 85. FAILURE TO FILE CERTAIN INFORMATION RETURNS. Subsection (a) of section 6652 (relating to failure to file certain information returns) is amended to read as follows: “(a) Additional Amount.—In case of each failure to file a statement of a payment to another person, required under authority of section 6041 (relating to information at source), section 6042 (1) (relating to payments of corporate dividends), section 6044 (relating to patronage dividends), or section 6051 (d) (relating to information returns with respect to income tax withheld), on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that such failure is due to reasonable cause and not 72 Stat. 1665 to willful neglect, there shall be paid (upon notice and demand by the Secretary or his delegate and in the same manner as tax), by the person failing to so file the statement, $1 for each such statement not so filed, but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $1,000.”