In Collins v. United States, ___ F.4th ___, 2022 U.S. App. LEXIS 15467 (3rd Cir. 6/6/22), CA3 here and GS here [to come], the Court affirmed the district court’s holding that Collins was liable for the willful FBAR penalty. See United States v. Collins, 2021 U.S. Dist. LEXIS 23260, 2021 WL 456962 (W.D. Pa. Feb. […]
Tag: FBAR Willful Penalty
In United States v. Schwarzbaum (S.D. Fla. Case # 18-cv-81147-BLOOM/Reinhart Dkt #146 5/16/22), CL here, the Court granted the Government’s motion to retain jurisdiction while the FBAR penalty is remanded to the IRS for recalculation. The pleadings on the motion and much other commotion at the district court level can be reviewed on the CourtListener […]
I have written before on the saga of Timberly Hughes. Court Sustains Willful FBAR Penalty for Two of Four Years (Federal Tax Crimes Blog 10/15/21), here. Hughes is back in the news, so to speak. In United States v. Hughes (N.D. Cal 18-cv-05931-JCS 3/29/22), here, Magistrate Judge Spero is trying to wrap up the case […]
In United States v. Schik, 2022 U.S. Dist. LEXIS 41025 (SD NY 3/8/22), CL here, the Court denied the Government’s Motion for Summary Judgment for the FBAR willful penalty. In other cases with more or less similar facts (although Schik has some unusual facts, as I note below), the Government has been able to convince […]
In United States v. Schik, 2022 U.S. Dist. LEXIS 41025 (SD NY 3/8/22), CL here, the Court denied the Government’s Motion for Summary Judgment for the FBAR willful penalty. In other cases with more or less similar facts (although Schik has some unusual facts, as I note below), the Government has been able to convince […]
In United States v. Schwarzbaum, ___ F.4th ___, 2022 U.S. App. LEXIS _____ (11th Cir. 1/25/22), CA11 here, The Court affirmed the district court’s holdings that (i) Schwarzbaum was liable for the FBAR civil willful penalty and (ii) that the IRS calculation of the willful penalty was arbitrary and capricious. Based on the latter holding, […]
I recently blogged on an order in United States v. Scharzbaum (S.D. Fla. Dkt # 18-cv-81147-BLOOM/Reinhart) to repatriate Swiss account funds based on the district court’s holding that a U.S. person was subject to the willful penalty. District Court Upholds Repatriation Order for FBAR Willful Penalty While Liability on Appeal (11/4/21; 11/5/21)), here. The parties […]
I recently blogged on an order in United States v. Scharzbaum (S.D. Fla. Dkt # 18-cv-81147-BLOOM/Reinhart) to repatriate Swiss account funds based on the district court’s holding that a U.S. person was subject to the willful penalty. District Court Upholds Repatriation Order for FBAR Willful Penalty While Liability on Appeal (11/4/21; 11/5/21)), here. The parties […]
Readers may recall that the FBAR willful penalty, as amended in 2004, provides a maximum penalty of the greater of $100,000 or 50% of the amount in the account on the reporting date. 31 U.S.C. §5321(a)(5)(C). Prior to 2004, the maximum willful penalty was $100,000. After the 2004 amendment, FinCEN did not amend the regulation, 31 […]
I have written before several posts on the trial level saga at the trial level in United States v. Scharzbaum (S.D. Fla. Dkt # 18-cv-81147-BLOOM/Reinhart) an FBAR collection suit. See particularly District Court Muddles an FBAR Willful Penalty Case (Federal Tax Crimes Blog 3/21/20; 3/24/20), here. Basically, after trial, the district court entered an FBAR […]