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Category Archives: FBAR PENALTIES
DOJ SETTLES WILLFUL FBAR PENALTY WITH HOLOCAUST SURVIVOR AFTER COURT DENIES ITS MOTION FOR SUMMARY JUDGMENT
The IRS had assessed a willful FBAR penalty against Walter Schik (Schik) in the amount of approximately $8.8 million for failure to timely file FinCEN Form 114 for the year 2007. When Schik did not pay the assessed amount the … Continue reading →
DEPARTMENT OF JUSTICE ANNOUNCES FBAR GUILTY PLEA OF GREEN CARD HOLDER
On October 26, 2017, Hyung Kwon Kim (Kim), a Greenwich, Connecticut man pleaded guilty to failing to report funds he maintained in foreign bank accounts to the Department of Treasury. The DOJ Press Release was announced Acting Deputy Assistant Attorney … Continue reading →
DISTRICT COURT CONTINUE TO REQUIRE ONLY A PREPONDERANCE OF THE EVIDENCE TO SUPPORT A FINDING OF WILLFULNESS IN FBAR PENALTY ENFORCEMENT CASES.
The U.S. District Court for the Central District of California in U.S. v. August Bohanec and Maria Bohanec Case No. 215-CV-4347 ddp (FFMx) (filed 12/8/16) https://www.pacermonitor.com/public/case/8438973/United_States_of_America_v_August_Bohanec_et_al handed the IRS victories on two important issues: 1. Held that the standard of … Continue reading →
Posted in FBAR PENALTIES, Uncategorized
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Tagged CLEAR AND CONVINCING EVIDENCE IN FBAR PENALTY CASES, PREPONDERANCE OF EVIDENCE IN FBAR PENALTY ENFORECEMENT, RECKLESSNESS, STREAMLINED NONWILLFUL CERTIFICATIONS, SUITS TO REDUCE FBAR PENALTY TO JUDGMENT, WILLFUL AS INCLUDING RECKLESS CONDUCT, WILLFULNESS
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