L 1 2 3 4 5 6 7 8 9 10 11 12 234 13 14 15 16 17 18 60 be made, and if such filing is not made on or before such date, and unless it is shown that failure so to file is due to reasonable cause, there shall be paid (on notice and demand by the Secretary or his delegate and in the same manner as tax) by the person failing so to file, in addition to the penalty prescribed in paragraph (1), a penalty of $10 for each day after the expiration of the time specified in the written demand during which such failure continues, but the total amount imposed hereunder on all persons for such failure to file shall not exceed $5,000. If more than one person is liable under this paragraph for a failure to file, all such persons shall be jointly and severally liable with respect to such failure. The term 'person' as used herein means any officer, director, trustee, employee, member, or other individual who is under a duty to perform the act in respect of which the violation occurs." (e) PUBLICITY OF INFORMATION REQUIRED BY 19 CERTAIN EXEMPT ORGANIZATIONS.-Section 6104 (re20 lating to publicity of information required from certain ex21 empt organizations and certain trusts) is amended by insert22 ing immediately after subsection (b), the following new 23 subsection: 24 25 "(c) PUBLICATION TO STATE OFFICIALS. "(1) GENERAL RULE.-In the case of any organi 61 zation which is exempt from taxation under section 501 (a), or has applied for recognition of exemption under such section on or after May 26, 1969, the Secretary or his delegate at such times and in such manner as he may by regulations prescribe shall— "(A) notify the appropriate State officer of a refusal to recognize exemption or the operation of such organization in a manner which does not meet, or no longer meets, the requirements of its exemption, "(B) notify the appropriate State officer of the mailing of a notice of deficiency of tax under section 507 or chapter 42, and "(C) at the request of such appropriate State officer, make available for inspection and copying such returns, filed statements, records, reports, and other information, relating to a determination under subparagraph (A) or (B) as are relevant to any determination under State law. 66 “(2) APPROPRIATE STATE OFFICER.-For pur poses of this section, the term 'appropriate State officer' means the State attorney general, State tax officer, or any other State official charged with overseeing charitable organizations.” 62 1 (f) PETITION TO TAX COURT; DEFICIENCY PROCE 2 DURES MADE APPLICABLE. 3 4 5 6 7 8 9 10 11 12 13 34 (1) Section 6211(a) (definition of a deficiency) is amended (A) by striking out "and gift taxes" and inserting in lieu thereof "gift, and excise taxes,", (B) by striking out "subtitles A and B," and inserting in lieu thereof "subtitles A and B, and chapter 42,", and (C) by striking out "subtitles A or B" and inserting in lieu thereof "subtitle A or B or chapter 42". (2) Section 6212 (c) (1) (relating to further de 14 ficiency letters restricted) is amended by striking out "or" before "of estate tax" and by inserting after "the 15 16 17 18 19 * 2 2 2 2 20 21 22 23 24 same decedent," the following: "or of chapter 42 tax with respect to any act (or failure to act) to which such petition relates,”. (3) Section 6213 (relating to restrictions applicable to deficiencies; petition to Tax Court) is amended by relettering subsection (e) as subsection (f) and inserting immediately after subsection (d) the following new subsection: "(e) SUSPENSION OF FILING PERIOD FOR CERTAIN 25 CHAPTER 42 TAXES.-The running of the time prescribed 63 1 by subsection (a), for filing a petition in the Tax Court with 2 respect to the taxes imposed by section 4941 (relating to 3 taxes on self-dealing), 4942 (relating to taxes on failure to 4 distribute income), or 4943 (relating to taxes on excess 5 business holdings) shall be suspended for any period during 6 which the Secretary or his delegate has extended the time 7 allowed for making correction under section 4941 (e) (4), 8 4942 (j) (2), or 4943 (d) (3)." 9 (g) LIMITATIONS ON ASSESSMENT AND COLLEC 10 TION. 11 12 (1) Section 6501 is amended by adding at the end thereof the following new subsection: 13 "(n) SPECIAL RULE FOR CHAPTER 42 TAXES.-For 14 15 16 purposes of any tax imposed by chapter 42 (other than sec tion 4942), the return referred to in this section shall be the return filed by the private foundation for the year in which 17 the act (or failure to act) giving rise to liability for such tax occurred. For purposes of section 4942 (relating to taxes on 19 failure to distribute income), such return is the return filed 20 by the private foundation for the taxable year in which a 21 distribution of undistributed income under section 4942 is 22 23 24 25 required to be made.” (2) Section 6501 (c) is amended by adding the following new paragraph at the end thereof: "(7) TERMINATION OF PRIVATE FOUNDATION 64 1 STATUS.-In the case of a tax on termination of private 2 3 4 5 6 7 8 9 foundation status under section 507, such tax may be after subsection (g) the following new subsection: 10 ning of the period of limitations provided in sections 6501 11 and 6502 on the making of assessments or the collection 12 by levy or a proceeding in court in respect of any tax im13 posed by chapter 42 or section 507 shall be suspended for 14 any period during which the Secretary or his delegate has 15 extended the time for making correction under section 4941 16 (e) (4), 4942 (j) (2), or 4943 (d) (3).” 17 (h) LIMITATIONS ON CREDITS OR REFUNDS.-Section 18 6511 (relating to limitations on credits or refunds) is 19 amended by relettering subsection (f) as subsection (g) and 20 inserting immediately after subsection (e) the following 21 222 23 new subsection: "(f) SPECIAL RULE FOR CHAPTER 42 TAXES.-For purposes of any tax imposed by chapter 42, the return re24 ferred to in subsection (a) shall be the return specified in 25 section 6501 (n)." |