Tag Archives: FBAR

FBAR 2018 – Common IRS FBAR Questions & Answers for 2018 FBAR

FBAR 2018 – 10 Common IRS FBAR Questions & Answers for 2018 FBAR (Golding & Golding) FBAR 2018 – Common IRS FBAR Questions & Answers for 2018 FBAR The FBAR is the Report of Foreign Bank and Financial Account Form … 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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FBAR Compliance for U.S. Entities

FBAR Instruction Guide for U.S. Entities U.S. Person For FBAR compliance purposes, a “U.S. person” includes U.S. citizens, U.S. residents, and entities which include corporations, partnerships, limited liability companies, trusts, and estate formed under the laws of the United States. … 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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