Code of Federal Regulations · Section
§ 157.6001-1 — -1 Records, Statements, And Special Returns
26 C.F.R. § 157.6001-1
(a) In general. Any person subject to tax under chapter 55 (Structured Settlement Factoring Transactions) of the Internal Revenue Code must keep such complete and detailed records as are sufficient to enable the Internal Revenue Service (IRS) to determine accurately the amount of liability under chapter 55.
(b) Notice by the IRS requiring returns, statements, or the keeping of records. The IRS may require any person, by notice served upon him, to make such returns, render such statements, or keep such specific records as will enable the IRS to determine whether or not the person is liable for tax under chapter 55.
(c) Retention of records. The records required by this section must be kept at all times available for inspection by the IRS, and shall be retained so long as the contents thereof may become material in the administration of any internal revenue law.
Authorizing Statute
-
Rules and regulations26 U.S.C. § 7805
-
Information returns of tax return preparers26 U.S.C. § 6060
-
Time for filing returns and other documents26 U.S.C. § 6071
-
General requirement of return, statement, or list26 U.S.C. § 6011
-
Signing of returns and other documents26 U.S.C. § 6061
-
Place for filing returns or other documents26 U.S.C. § 6091
-
Extension of time for paying tax26 U.S.C. § 6161
-
Extension of time for filing returns26 U.S.C. § 6081
-
Identifying numbers26 U.S.C. § 6109