Title 26 — Internal Revenue CodeRelease 119-73not60

§6659 Improper Claim for Trump Account Contribution Pilot Program Credit

Title 26 › Subtitle Subtitle F— Procedure and Administration › Chapter 68— ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES › Subchapter A— Additions to the Tax and Additional Amounts › Part I— GENERAL PROVISIONS › § 6659

Last updated Apr 5, 2026|Official source

Summary

If you claim the credit under section 6434 for someone who is not your eligible child, you must pay a penalty. If the claim was made because of carelessness or ignoring the rules, the penalty is $500. If the claim was made by fraud, the penalty is $1,000. “Eligible child” means what section 6434 says it means. “Negligence” and “disregard” mean the same as they do in section 6662.

Full Legal Text

Title 26, §6659

Internal Revenue Code — Source: USLM XML via OLRC

(a)In the case of any individual who makes an election under section 6434 with respect to an individual who is not an eligible child of the taxpayer—

(1)if such election was made due to negligence or disregard of the rules or regulations, there shall be imposed a penalty of $500, or

(2)if such election was made due to fraud, there shall be imposed a penalty of $1,000.

(b)(1)The term “eligible child” has the meaning given such term under section 6434.

(2)The terms “negligence” and “disregard” have the same meaning as when such terms are used in section 6662.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 6659, added Pub. L. 97–34, title VII, § 722(a)(1), Aug. 13, 1981, 95 Stat. 341; amended Pub. L. 97–448, title I, § 107(a)(1), (2), Jan. 12, 1983, 96 Stat. 2391; Pub. L. 98–369, div. A, title I, § 155(c)(1), title VII, § 721(x)(4), July 18, 1984, 98 Stat. 693, 971, related to additions to tax in case of valuation overstatements for purposes of the income tax, prior to repeal by Pub. L. 101–239, title VII, § 7721(c)(2), Dec. 19, 1989, 103 Stat. 2399. Another prior section 6659 was renumbered section 6662 of this title.

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to taxable years beginning after Dec. 31, 2025, see section 70204(e) of Pub. L. 119–21, set out as a note under section 128 of this title.

Reference

Citations & Metadata

Citation

26 U.S.C. § 6659

Title 26 — Internal Revenue Code

Last Updated

Apr 5, 2026

Release point: 119-73not60