1 answer

26 U.S. Code $ 6001- Notice or regulations requiring records, statements, and special returns . Every...

Question:

26 U.S. Code $ 6001- Notice or regulations requiring records, statements, and special returns .

Every person liable for any tax imposed by this title, or for the collection thereof, shall keep such records, render such statements, make such returns, and comply with such rules and regulations as the Secretary may from time to time prescribe. Whenever in the judgment of the Secretary it is necessary, he may require any person, by notice served upon such make such returns, render such statements, or keep such records, as the Secretary deems sufficient to show whether or not such person is liable for only records which an employer shall be required to keep under this section in connection with charged tips shall comply with section 6053(c), and copies of statements furnished by employees under section 6053(a).

Your task for these Codebreakers is to break down the meaning of a section of the Internal Revenue Code and explain it in plain English.


Answers

U.S. Code 6001:

This code states that any person who falls within the purview of this code, has to pay the tax or collect it, in accordance with and as required by this code. All such people are required to maintain records, statements, returns and follow the rules and regulations which the Secretary will define from time to time.

If the Secretary judges that it is imperative then by way of a notice served to such a person, that person is required to maintain records, statements and returns. Based upon these, the Secretary decides whether that person has a tax liability under this code or not.

In case of an employer, under this code, the only record which s/he is required to keep in relation to charged tips will be charge receipts and records in compliance with section 6053(c) and copies of statements given by employees in compliance with section 6053(a).

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