REPORT ON TAX SHELTER PENALTIES AND CERTAIN OTHER ENFORCEMENT ACTIONS.

SEC. 2103. [26 U.S.C. 6662A note] REPORT ON TAX SHELTER PENALTIES AND CERTAIN OTHER ENFORCEMENT ACTIONS. (a) In General.—The Commissioner of Internal Revenue, in consultation with the Secretary of the Treasury, shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate an annual report on the penalties assessed by the Internal Revenue Service during the preceding year under each of the following provisions of the Internal Revenue Code of 1986: (1) Section 6662A (relating to accuracy-related penalty on understatements with respect to reportable transactions). (2) Section 6700(a) (relating to promoting abusive tax shelters). (3) Section 6707 (relating to failure to furnish information regarding reportable transactions). (4) Section 6707A (relating to failure to include reportable transaction information with return). (5) Section 6708 (relating to failure to maintain lists of advisees with respect to reportable transactions). (b) Additional Information.—The report required under subsection (a) shall also include information on the following with respect to each year: (1) Any action taken under section 330(b) of title 31, United States Code, with respect to any reportable transaction (as defined in section 6707A(c) of the Internal Revenue Code of 1986). (2) Any extension of the time for assessment of tax enforced, or assessment of any amount under such an extension, under paragraph (10) of section 6501(c) of the Internal Revenue Code of 1986. (c) Date of Report.—The first report required under subsection (a) shall be submitted not later than December 31, 2010.