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IRC Section 6700
IRC Section 6700 is used
with regularity for fishing expeditions and unconstitutional VIOLATIONS
of the First Amendment.
That is the reason I have
put the disclaimer above on every web page dealing with Federal Tax
issues. As I pointed out on the last page, The Criminals of the
IRS attempt to quash First Amendment Protected FREE SPEECH by using
THIS statute, section 6700.
The First Amendment to
the U.S. Constitution in the BILL OF
RIGHTS.
Congress shall make no law
respecting an establishment of religion, or
prohibiting the free exercise thereof; or abridging the freedom of
speech, or of the press;
or the right of the people peaceably to
assemble, and to petition the government for a redress of grievances. |
26 USC Sec.
6700
01/19/04
TITLE 26 - INTERNAL REVENUE CODE
Subtitle F - Procedure and Administration
CHAPTER 68 - ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND
ASSESSABLE PENALTIES
Subchapter B - Assessable Penalties
PART I - GENERAL PROVISIONS
Sec. 6700. Promoting abusive tax shelters, etc.
(a) Imposition of penalty
Any person who -
(1)(A) organizes (or assists in the organization of) -
(i) a partnership or other entity,
(ii) any investment plan or arrangement, or
(iii) any other plan or arrangement, or
(B) participates (directly or indirectly) in the sale of any
interest in an entity or plan or arrangement referred to in
subparagraph (A), and
(2) makes or furnishes or causes another person to make or
furnish (in connection with such organization or sale) -
(A) a statement with respect to the allowability of any
deduction or credit, the excludability of any income, or the
securing of any other tax benefit by reason of holding an
interest in the entity or participating in the plan or
arrangement which the person knows or has reason to known is
false or fraudulent as to any material matter, or
(B) a gross valuation overstatement as to any material
matter,
shall pay, with respect to each activity described in paragraph
(1), a penalty equal to the $1,000 or, if the person establishes
that it is lesser, 100 percent of the gross income derived (or to
be derived) by such person from such activity. For purposes of the
preceding sentence, activities described in paragraph (1)(A) with
respect to each entity or arrangement shall be treated as a
separate activity and participation in each sale described in
paragraph (1)(B) shall be so treated.
(b) Rules relating to penalty for gross valuation overstatements
(1) Gross valuation overstatement defined
For purposes of this section, the term "gross valuation
overstatement" means any statement as to the value of any
property or services if -
(A) the value so stated exceeds 200 percent of the amount
determined to be the correct valuation, and
(B) the value of such property or services is directly
related to the amount of any deduction or credit allowable
under chapter 1 to any participant.
(2) Authority to waive
The Secretary may waive all or any part of the penalty provided
by subsection (a) with respect to any gross valuation
overstatement on a showing that there was a reasonable basis for
the valuation and that such valuation was made in good faith.
(c) Penalty in addition to other penalties
The penalty imposed by this section shall be in addition to any
other penalty provided by law.
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- I offer nothing for sale.
- I don't tell anybody what to do with the information they
find on this site.
- I don't promote, organize, or participate in any
sort of "tax
shelter";
- Therefore, I certainly do not promote, organize, or
participate in any
sort of an "abusive
tax shelter".
Therefore, there is NOTHING you can do to shut this web
sight down.
The only thing abusive is
the way you criminals stomp on
Constitutional Rights.
Any and all correspondence
in regard to myself, my website, and section 6700 is hereby
pre-emptively responded to with the following statements:
Congress shall make no law respecting an establishment of
religion, or
prohibiting the free exercise thereof; or abridging the freedom of
speech, or of the press;
or the right of the people peaceably to
assemble, and to petition the government for a redress of grievances.
This web site, as well as
the following words are protected under the First Amendment.
KISS
MY ASS you lawless bastards.
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