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.
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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
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DOI: https://doi.org/10.1007/978-3-030-23085-2_7
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