26 U.S.C. § 7001 — Collection of foreign items

FEDERAL · 26 U.S.C. · Chapter 72

Collection of foreign items

Current through Pub. L. 119-102

Title 26 — Internal Revenue Code·Ch. 72 — LICENSING AND REGISTRATION·Subch. A

(a)License All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.

(b)Penalty for failure to obtain license

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(a) License
All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.
(b) Penalty for failure to obtain license

26 U.S.C. § 7001 (Collection of foreign items) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Aug. 16, 1954, ch. 736, 68A Stat. 845; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)

Editorial Notes

For penalty for failure to obtain the license provided for in this section, see section 7231.

Editorial Notes

Amendments
1976—Subsec. (a). Pub. L. 94–455 struck out "or his delegate" after "Secretary" wherever appearing.

Related

Source Credit

History

Editorial Notes