Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 6112
Material advisors of reportable transactions must keep lists of advisees, etc.
# (a) In general
Each material advisor (as defined in section 6111) with respect to any reportable transaction (as defined in section 6707A(c)) shall (whether or not required to file a return under section 6111 with respect to such transaction) maintain (in such manner as the Secretary may by regulations prescribe) a list— (1) identifying each person with respect to whom such advisor acted as a material advisor with respect to such transaction, and (2) containing such other information as the Secretary may by regulations require.
# (b) Special rules
(1) Availability for inspection; retention of information on list Any person who is required to maintain a list under subsection (a) (or was required to maintain a list under subsection (a) as in effect before the enactment of the American Jobs Creation Act of 2004)— (A) shall make such list available to the Secretary for inspection upon written request by the Secretary, and (B) except as otherwise provided under regulations prescribed by the Secretary, shall retain any information which is required to be included on such list for 7 years. (2) Lists which would be required to be maintained by 2 or more persons The Secretary may prescribe regulations which provide that, in cases in which 2 or more persons are required under subsection (a) to maintain the same list (or portion thereof), only 1 person shall be required to maintain such list (or portion).
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Nearby sections (25 sections)
- 6096 · Designation by individuals
- 6101 · Period covered by returns or other documents
- 6102 · Computations on returns or other documents
- 6103 · Confidentiality and disclosure of returns and return information
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- 6105 · Confidentiality of information arising under treaty obligations
- 6106 · [§6106. Repealed. Pub. L. 94–455, title XII, §1202(h)(1), Oct.…
- 6107 · Tax return preparer must furnish copy of return to taxpayer and…
- 6108 · Statistical publications and studies
- 6109 · Identifying numbers
- 6110 · Public inspection of written determinations
- 6111 · Disclosure of reportable transactions
- 6112 · Material advisors of reportable transactions must keep lists of…
- 6113 · Disclosure of nondeductibility of contributions
- 6114 · Treaty-based return positions
- 6115 · Disclosure related to quid pro quo contributions
- 6116 · Requirement for prisons located in United States to provide…
- 6117 · Cross reference
- 6151 · Time and place for paying tax shown on returns
- 6152 · [§6152. Repealed. Pub. L. 99–514, title XIV, §1404(c)(1), Oct.…
- 6153 · [§6153. Repealed. Pub. L. 98–369, div. A, title IV, §412(a)(3),…
- 6154 · [§6154. Repealed. Pub. L. 100–203, title X, §10301(b)(1), Dec.…
- 6155 · Payment on notice and demand
- 6156 · [§6156. Repealed. Pub. L. 108–357, title VIII, §867(b)(1), Oct.…
- 6157 · Payment of Federal unemployment tax on quarterly or other time…