tag:blogger.com,1999:blog-6398232680738279469.post4903495844467319546..comments2024-03-12T07:30:17.846-07:00Comments on The Tax Times: Appeals Court Rules That Non-Willful FBAR Penalty Applies Per Form, Not Per Account Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6398232680738279469.post-62274591251149619272021-11-23T07:06:17.074-08:002021-11-23T07:06:17.074-08:00US Accepts Settlement In $49K FBAR Case
The Unite...US Accepts Settlement In $49K FBAR Case<br /><br />The United States government told a California federal court on November 22, 2021, it had accepted a settlement from a woman accused of failing to report interest in 14 United Kingdom bank accounts, which led to $49,000 in fines being assessed.<br /><br />The U.S. accepted Jane Boyd's undisclosed settlement offer, the notice said. <br />The government previously claimed Boyd nonwillfully failed to file Report of Foreign Bank and Financial Accounts forms in 2010 on 14 bank accounts in the U.K.<br /><br />That triggered 13 separate FBAR violations and a $47,279 assessment from the Internal Revenue Service in 2016. Her attorneys had argued the violations should be condensed and limited to $10,000, but the court in April 2019 upheld the IRS assessment, plus interest, finding the penalty for nonwillful failure to file FBARs was not bound by that upper limit.<br /><br />Ronald A. Marini, Esq.https://www.blogger.com/profile/14304486100168506240noreply@blogger.com