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Supreme Court Rules FBAR Penalty Applies on Per-Report Basis, A. Bittner, SCt, 2023-1 USTC ¶50,127

Apr 28, 2023 | FBAR, IRS

The U.S. Supreme Court has ruled that the $10,000 maximum penalty under the Bank Secrecy Act (BSA) for the nonwillful failure to file a compliant Report of Foreign Bank and Financial Accounts (FBAR) accrues on a per-report, not a per-account, basis. This ruling...
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