Foreign Bank Account: FBAR Litigation Victory for Green & Sklarz

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Education & Training with Tax Rep LLC

Yesterday, a District Court Judge in Connecticut ruled in favor of our client at summary judgment and found that the nonwillful penalty for failure to file an FBAR is capped at $10,000 per form, not per account, as had been argued by IRS and and DOJ. This was a matter of first impression for the Court and the ruling will impact many taxpayers. To date, the issue had only been decided by two other courts and they were divided on the issue.

Ypou can read the decision here: United States v. Kaufman 

Questions about this or other tax litigation matters?  Contact us at either egreen@gs-lawfirm.com or (203) 285-8545.

Eric L. Green

Green & Sklarz LLC

One Audubon Street, 3rd Floor

New Haven, CT 06511

Ph. (203) 285-8545

egreen@gs-lawfirm.com

www.gs-lawfirm.com 

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