SCOTUS Holds FBAR Penalty Determined on Per-Report Basis
Taxpayers with foreign bank accounts who forgot to file an annual Report of Foreign Bank and Financial Accounts (FBAR) received some good news at the end of February. In Bittner v. United States, the Supreme Court held that the penalty for nonwillful failure to file an FBAR should be assessed on a per-report basis—capping fines at $10,000 per year, regardless of the number of accounts.… Read more about SCOTUS Holds FBAR Penalty Determined on Per-Report Basis (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…