From the Tax Law Offices of David W. Klasing – Federal Court holds: IRS Foreign Bank Account Reporting Penalties Can Now Exceed the Regulatory Cap
- Tuesday, November 16, 2021, 7:07
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IRVINE, Calif., Nov. 16, 2021 /PRNewswire/ — The IRS has gotten into the habit of assessing and enforcing harsh Foreign Bank Account Reporting “FBAR” penalties in the recent past. But statutory guidelines clash on how much is permissible to assess as a penalty in a given case. It is…
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