Massachusetts General Laws (Tax)
Mass. Gen. Laws ch. 62C, § 35B
Good faith defense for underpayment penalty; list of abusive transactions or tax strategies
Section 35B.
# (a)
A penalty shall not be imposed under section 35A with respect to any portion of an underpayment if it is shown that there was reasonable cause for such portion and that the taxpayer acted in good faith with respect to such portion. With respect to listed abusive transactions or strategies within the meaning of subsection (b), the commissioner may, by regulation, set forth circumstances under which the penalties otherwise may be waived in the interest of the efficient administration of the tax laws of the commonwealth.
# (b)
The commissioner may, from time to time, list by regulation items that he considers to be abusive transactions or tax strategies for purposes of section 35A and of this section.
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In this chapter (40 sections)
- 62C-23 · Participation of commissioner with governmental officers or…
- 62C-24 · Verification of returns; inspection of stampers
- 62C-24A · Income reporting by member or indirect owner of pass-through…
- 62C-25 · Records to be kept by taxpayers subject to chapters 64A and…
- 62C-26 · Assessment of taxes
- 62C-27 · Extension of time for assessment
- 62C-28 · Failure to file or filing of incorrect return; determination…
- 62C-29 · Collection of tax jeopardized by delay; immediate assessment
- 62C-30 · Federal income tax changes; assessment; abatement; penalty
- 62C-30A · Adjustments based on final determination of tax due in…
- 62C-30B · Partnership-level audit
- 62C-31 · Notice of assessment in excess of amount on return
- 62C-31A · Notice of unpaid corporate or partnership assessment;…
- 62C-32 · Payment date; interest; notice; contested taxes not collected…
- 62C-32A · Outstanding obligations on installment transactions; method…
- 62C-33 · Late returns; penalty; abatement
- 62C-33A · United States postmark; alternative private delivery service;…
- 62C-34 · Penalty for failure to file returns; payment
- 62C-35 · Payment by check or electronic funds transfer; penalty for…
- 62C-35A · Penalty for underpayment of tax required to be shown on return
- 62C-35B · Good faith defense for underpayment penalty; list of abusive…
- 62C-35C · Understatement of liability with respect to any return or…
- 62C-35D · Inconsistent position in reporting of income; disclosure
- 62C-35E · False or deliberately misleading statements respecting…
- 62C-35F · Penalties for sale or offers for sale of an automated sales…
- 62C-36 · Overpayment of tax, interest, or penalty; refund or credit;…
- 62C-36A · Correction of error without application of taxpayer; demand…
- 62C-36B · Erroneous written advice from department of revenue; waiver…
- 62C-37 · Application for abatement; hearing; notice of decision
- 62C-37A · Settlement of tax liability
- 62C-37B · Installment payment agreements; modification or termination
- 62C-37C · Acceptance of amount less than proposed or assessed tax…
- 62C-38 · Prerequisites for abatement
- 62C-39 · Appeal from refusal for abatement
- 62C-40 · Refund of overpaid taxes; interest
- 62C-41 · Remedies; restrictions
- 62C-42 · Abatement of taxes by appellate tax board
- 62C-43 · Unpaid taxes not warranting collection; abatement
- 62C-44 · Sale of business; withholdings to cover tax; liability of…
- 62C-45 · Designation of banks as depository for receiving taxes