Tag Archives: $100000

Bankrupt Medical Records Company Hit with $100,000 Penalty for HIPAA Violations

Filefax, Inc., a defunct Illinois medical records storage and management company, has been fined $100,000 for improperly handling medical data under an agreement with the court-appointed receiver managing the company’s assets on behalf of its creditors.  This settlement has implications … Continue reading

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Court Says FBAR Willful Penalty not Limited to $100,000

Court Says FBAR Willful Penalty not Limited to $100,000 Breaking from Wadhan and Colliot, the court in Norman v. United States, No. 15-872T (Ct. Cl. 2018) recently held that FBAR willful penalties are not limited to $100,000 despite the regulation which sets … Continue reading

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Another Court Says FBAR Willful Penalty Capped at $100,000

FBAR willful penalty capped at $100,000 In the wake of U.S. v. Colliot FBAR civil penalty case discussed previously, another district court in U.S. v. Wadhan has held that 31 CFR §1030.820 limits the maximum willful penalty to $100,000. Case background Below … Continue reading

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FBAR Not Limited to $100,000, Willfulness Upheld

There have been a number of recent court cases involving foreign bank account or FBAR reporting penalties.  This is likely due to the significant amount of the penalty and that many do not fully appreciate the amount of the liability … Continue reading

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District Court says FBAR Civil Penalties Capped at $100,000

A recent decision in an FBAR case (U.S. v. Colliot) in the Western District of Texas might be huge win for taxpayers who have been incorrectly assessed FBAR civil penalties under 31 U.S. Code 5321(a)(5)(C). Background In December 2016, the … Continue reading

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