Abstract
In addition to oversight and control mechanisms, IRC Chapter 3 and its associated QI Agreement have a system of penalties which are seen as a ‘motivator’ to compliance. Unlike many other jurisdictions, I have not seen the Internal Revenue Service (IRS) publicly announce the application of penalties, which would serve as an additional deterrent in the form of reputational damage.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
McGill, R. (2019). Penalties. In: US Withholding Tax. Global Financial Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-23085-2_7
Download citation
DOI: https://doi.org/10.1007/978-3-030-23085-2_7
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-23084-5
Online ISBN: 978-3-030-23085-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)