Abstract
In addition to oversight and control mechanisms, IRC Chapter 3 and its associated QI agreement have a system of penalties that are seen as a ‘motivator’ to compliance. Unlike many other jurisdictions, I have not seen the IRS publicly announce the application of penalties, which would serve as an additional deterrent in the form of reputational damage
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© 2013 Ross K. McGill
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McGill, R.K. (2013). Penalties. In: US Withholding Tax. Global Financial Markets series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137317308_7
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DOI: https://doi.org/10.1057/9781137317308_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-34939-5
Online ISBN: 978-1-137-31730-8
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