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General Rule (§ 6722(a)(1)) $270 $3,282,500 Corrected on or before 30 days after required filing date (§ 6722(b)(1))

$50

$547,000 Corrected after 30th day but on or before August 1 (§ 6722(b)(2))

$100

$1,641,000

(2) for persons with average annual gross receipts for the most recent 3 taxable years of $5,000,000 or less, for failure to file correct information returns are: Scenario Penalty Per Return Calendar Year Maximum General Rule (§ 6722(d)(1)(A)) $270 $1,094,000 Corrected on or before 30 days after required filing date (§ 6722(d)(1)(B))

$50

$191,000 Corrected after 30th day but on or before August 1 (§ 6722(d)(1)(C))

$100

$547,000

(3) for failure to file correct payee statements due to intentional disregard of the requirement to furnish a payee statement (or the correct information reporting requirement) are: Scenario Penalty Per Return Calendar Year Maximum Statement other than a statement required under §§ 6045(b), 6041A(e) (in respect of a return required under § 6041A(b)), 6050H(d), 6050J(e), 6050K(b), or 6050L(c) (§ 6722(e)(2)(A)) Greater of (i) $540, or (ii) 10% of aggregate amount of items required to be reported correctly No limit Payee statement required under §§ 6045(b), 6050K(b), or 6050L(c) (§ 6722(e)(2)(B)) Greater of (i) $540, or (ii) 5% of aggregate amount of items required to be reported correctly

No limit