Treasury Regulations (26 C.F.R.)
26 CFR § 301.6656-1
Abatement of penalty.
# (a)
Exception for first time depositors of employment taxes—(1) Waiver. The Secretary will generally waive the penalty imposed by section 6656(a) on a person's failure to deposit any employment tax under subtitle C of the Internal Revenue Code if—
(i) The failure is inadvertent;
(ii) The person meets the requirements referred to in section 7430(c)(4)(A)(ii) (relating to the net worth requirements applicable for awards of attorney's fees);
(iii) The failure occurs during the first quarter that the person is required to deposit any employment tax; and
(iv) The return of the tax is filed on or before the due date.
(2) Inadvertent failure. For purposes of paragraph (a)(1)(i) of this section, the Secretary will determine if a failure to deposit is inadvertent based on all the facts and circumstances.
# (b) Deposit sent to Secretary.
The Secretary may abate the penalty imposed by section 6656(a) if the first time a taxpayer is required to make a deposit, the amount required to be deposited is inadvertently sent to the Secretary rather than deposited by electronic funds transfer.
# (c) Effective/applicability date.
This section applies to deposits and payments made after December 31, 2010.
[T.D. 8725, 62 FR 39118, July 22, 1997. Redesignated by T.D. 8947, 66 FR 32542, June 15, 2001; T.D. 9507, 75 FR 75904, Dec. 7, 2010]
Source: view the official text
In this part (40 sections)
- 301.6514(b)-1 · (b)-1 Credit against barred liability.
- 301.6521-1 · Mitigation of effect of limitation in case of related…
- 301.6521-2 · Law applicable in determination of error.
- 301.6532-1 · Periods of limitation on suits by taxpayers.
- 301.6532-2 · Periods of limitation on suits by the United States.
- 301.6532-3 · Periods of limitation on suits by persons other than…
- 301.6601-1 · Interest on underpayments.
- 301.6602-1 · Interest on erroneous refund recoverable by suit.
- 301.6611-1 · Interest on overpayments.
- 301.6621-1 · Interest rate.
- 301.6621-2T · Questions and answers relating to the increased rate of…
- 301.6621-3 · Higher interest rate payable on large corporate…
- 301.6622-1 · Interest compounded daily.
- 301.6651-1 · Failure to file tax return or to pay tax.
- 301.6652-1 · Failure to file certain information returns.
- 301.6652-2 · Failure by exempt organizations and certain nonexempt…
- 301.6652-3 · Failure to file information with respect to employee…
- 301.6653-1 · Failure to pay tax.
- 301.6654-1 · Failure by individual to pay estimated income tax.
- 301.6655-1 · Failure by corporation to pay estimated income tax.
- 301.6656-1 · Abatement of penalty.
- 301.6657-1 · Bad checks.
- 301.6658-1 · Addition to tax in case of jeopardy.
- 301.6659-1 · Applicable rules.
- 301.6671-1 · Rules for application of assessable penalties.
- 301.6672-1 · Failure to collect and pay over tax, or attempt to evade…
- 301.6673-1 · Damages assessable for instituting proceedings before the…
- 301.6674-1 · Fraudulent statement or failure to furnish statement to…
- 301.6678-1 · Failure to furnish statements to payees.
- 301.6679-1 · Failure to file returns, etc. with respect to foreign…
- 301.6682-1 · False information with respect to withholding allowances…
- 301.6684-1 · Assessable penalties with respect to liability for tax…
- 301.6685-1 · Assessable penalties with respect to private foundations'…
- 301.6686-1 · Failure of DISC to file returns.
- 301.6688-1 · Assessable penalties with respect to information required…
- 301.6689-1 · Failure to file notice of redetermination of foreign…
- 301.6690-1 · Penalty for fraudulent statement or failure to furnish…
- 301.6692-1 · Failure to file actuarial report.
- 301.6693-1 · Penalty for failure to provide reports and documents…
- 301.6707-1 · Failure to furnish information regarding reportable…