According to Law360, a New York federal judge approved an $80,000 settlement in a $330,000 dispute between a woman and the federal government over improperly reported overseas accounts. The case is U.S. v. Bouskila, case number 2:21-cv-04243, in the U.S. District Court for the Eastern District of New York.
Cecile Bouskila will pay the $80,000 settlement as well as 1% annually accruing interest from the date of the amount-due notice, a 6% annually accruing late-payment penalty from 90 days after that notice and other post-judgment interest, according to the order.
The Internal Revenue Service Had Previously Assessed
$330,000 In Penalties For Bouskila's Failure To Timely
File Reports Of Foreign Bank And Financial Accounts,
Or FBARs, From 2004 Through 2011.
In March, the U.S. Supreme Court ruled in a separate case that the $10,000 maximum penalty dictated by the Bank Secrecy Act is applicable per annual form, rather than per account. Bouskila had previously argued that sentiment, claiming that she was liable for a maximum penalty of $80,000.
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