Supreme Court resolves FBAR nonwillful penalty
Some professionals are predicting that the IRS will start looking more closely at the willful versus nonwillful standard in filing the form late or incorrectly.
Source: accountingtoday.com
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Supreme Court decides two big tax cases
The high court handed down rulings in FBAR penalty and state escheat cases.
Source: accountingtoday.com
Supreme Court case on offshore accounts could slash penalties for undisclosed assets
A dual Romanian-U.S. citizen has been fighting an IRS contention that he owes $2.7 million for failing to submit FBAR forms.
Source: financial-planning.com