Internal Revenue Code · 26 U.S.C.

§ 6050X. Information with respect to certain fines, penalties, and other amounts

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 6050X

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status: In force
Added: December 22, 2017 by Pub. L. 115–97
Length: 3 subsections · 445 words · about 2 min to read
Defines: 1 term
Cross-references: cites 1; cited by 0 Code sections and 0 other regulations
Regulations: 1 issued under this section

¶(a) Requirement of reporting

¶(1) In general The appropriate official of any government or any entity described in section 162(f)(5) which is involved in a suit or agreement described in paragraph (2) shall make a return in such form as determined by the Secretary setting forth—

¶(A) the amount required to be paid as a result of the suit or agreement to which paragraph (1) of section 162(f) applies,

¶(B) any amount required to be paid as a result of the suit or agreement which constitutes restitution or remediation of property, and

¶(C) any amount required to be paid as a result of the suit or agreement for the purpose of coming into compliance with any law which was violated or involved in the investigation or inquiry.

¶(2) Suit or agreement described

¶(A) In general A suit or agreement is described in this paragraph if—

¶(i) it is—

¶(I) a suit with respect to a violation of any law over which the government or entity has authority and with respect to which there has been a court order, or

¶(II) an agreement which is entered into with respect to a violation of any law over which the government or entity has authority, or with respect to an investigation or inquiry by the government or entity into the potential violation of any law over which such government or entity has authority, and

¶(ii) the aggregate amount involved in all court orders and agreements with respect to the violation, investigation, or inquiry is $600 or more.

¶(B) Adjustment of reporting threshold

The Secretary shall adjust the $600 amount in subparagraph (A)(ii) as necessary in order to ensure the efficient administration of the internal revenue laws.

¶(3) Time of filing

The return required under this subsection shall be filed at the time the agreement is entered into, as determined by the Secretary.

¶(b) Statements to be furnished to individuals involved in the settlement Every person required to make a return under subsection (a) shall furnish to each person who is a party to the suit or agreement a written statement showing—

¶(1) the name of the government or entity, and

¶(2) the information supplied to the Secretary under subsection (a)(1).

The written statement required under the preceding sentence shall be furnished to the person at the same time the government or entity provides the Secretary with the information required under subsection (a).

¶(c) Appropriate official defined

For purposes of this section, the term “appropriate official” means the officer or employee having control of the suit, investigation, or inquiry or the person appropriately designated for purposes of this section.

(Added Pub. L. 115–97, title I, § 13306(b)(1), Dec. 22, 2017, 131 Stat. 2128.)

Terms defined here

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appropriate official § 6050X(c)

Regulations under this section

Treasury regulations (26 CFR) issued under § 6050X

§ 1.6050X-1 Information reporting for fines, penalties, and other amounts by governments, governmental entities, and nongovernmental entities treated as governmental entities.

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 1 other section

§ 162(f)(5) Trade or business expenses

Amendment history

From the source credit and the official notes, newest first.

December 22, 2017Added by Pub. L. 115–97

Where it sits in the Code

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Official notes

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Effective Date

Pub. L. 115–97, title I, § 13306(b)(3), Dec. 22, 2017, 131 Stat. 2129, provided that: “The amendments made by this subsection [enacting this section] shall apply to amounts paid or incurred on or after the date of the enactment of this Act [Dec. 22, 2017], except that such amendments shall not apply to amounts paid or incurred under any binding order or agreement entered into before such date. Such exception shall not apply to an order or agreement requiring court approval unless the approval was obtained before such date.”