A person who fails to produce records or documents, as provided under s. 71.74 (2), that support amounts or other information required to be shown on any return required under this chapter and fails to comply in good faith with a summons issued pursuant to s. 73.03 (9) seeking those records and documents may be subject to any of the following penalties, as determined by the department, except that the department may not impose a penalty under this subsection if the person shows that under all facts and circumstances the person’s response, or failure to respond, to the department’s request was reasonable or justified by factors beyond the person’s control: 1.
(1)#
The disallowance of deductions, credits, exemptions, or income inclusions to which the requested records relate.
(2)#
In addition to any penalty imposed under sub. (4), a penalty for each violation of this subsection that is equal to the greater of $500 or 25 percent of the amount of the additional tax on any adjustment made by the department that results from the person’s failure to produce the records.