There Is a Newer Version of the Utah Code
2011 Utah Code
Title 59 Revenue and Taxation
Chapter 1 General Taxation Policies
Section 1304 Penalty for taxpayer failure to disclose a reportable transaction.
59-1-1304. Penalty for taxpayer failure to disclose a reportable transaction.(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.
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