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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-1-1304

Penalty for taxpayer failure to disclose a reportable transaction

Official textle.utah.gov

# (1)

# (a)

Except as provided in Subsection (1)(b), a taxpayer that fails to disclose a reportable transaction as required by Section 59-1-1303 is subject to a penalty of $15,000.

# (b)

A taxpayer that fails to disclose a listed transaction as required by Section 59-1-1303 is subject to a penalty of $30,000.

# (2)

A penalty imposed by this section is in addition to any other penalty imposed by this title.

Last amended: Enacted by Chapter 237, 2006 General Session

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In this chapter (40 sections)
  1. 59-1-613 · Judicial review -- Mandatory stay of certain commission cases
  2. 59-1-701 · Grounds for termination and jeopardy assessment -- Notice --…
  3. 59-1-702 · Jeopardy assessment -- Notice -- Amount
  4. 59-1-703 · Collection procedure -- Review -- Bond for stay -- Sale of…
  5. 59-1-704 · Restraint of collection restricted
  6. 59-1-705 · Payment and collection of penalties, interest, and other…
  7. 59-1-707 · Writ of mandate requiring taxpayer to file return
  8. 59-1-801.5 · Purpose of compact -- Definitions -- Elements of sales and…
  9. 59-1-808 · Interaudit provisions to apply
  10. 59-1-809 · Commission authority related to the Multistate Tax…
  11. 59-1-1001 · Statement of taxpayer rights
  12. 59-1-1002 · Audit interviews
  13. 59-1-1003 · Penalty waiver
  14. 59-1-1004 · Installment payments
  15. 59-1-1005 · Suits against commission and its employees
  16. 59-1-1006 · Application to jeopardy assessments and property tax
  17. 59-1-1101 · Private collection of tax -- Fee
  18. 59-1-1102 · Disclosure of tax information -- Confidentiality
  19. 59-1-1302 · Definitions
  20. 59-1-1303 · Taxpayer disclosure of reportable transactions
  21. 59-1-1304 · Penalty for taxpayer failure to disclose a reportable…
  22. 59-1-1305 · Penalty for taxpayer underpayment of tax attributable to a…
  23. 59-1-1306 · Material advisor disclosure of reportable transactions
  24. 59-1-1307 · Material advisor maintenance of list
  25. 59-1-1308 · Material advisor penalties
  26. 59-1-1309 · Penalty may be waived, reduced, or compromised for…
  27. 59-1-1402 · Definitions
  28. 59-1-1402.1 · Exceptions to applicability of this part
  29. 59-1-1403 · Commission to collect a tax, fee, or charge -- Receipt for…
  30. 59-1-1404 · Definition -- Mailing procedures -- Rulemaking authority --…
  31. 59-1-1405 · Notice of deficiency -- Notice of assessment -- Amended…
  32. 59-1-1406 · Record retention -- Commission estimates tax if person…
  33. 59-1-1407 · Mathematical errors
  34. 59-1-1408 · Assessments
  35. 59-1-1409 · Definition -- Recomputation of amounts due -- Refunds…
  36. 59-1-1410 · Action for collection of tax, fee, or charge -- Action for…
  37. 59-1-1411 · Notice and demand
  38. 59-1-1412 · Applicability of section -- Delinquent payment -- Notice to…
  39. 59-1-1413 · Lien for a liability
  40. 59-1-1414 · Warrant procedures -- Judgment -- Notice requirements after…
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