Hedge Fund Exec Fights $40M In IRS Foreign Reporting Fines

By Kat Lucero ( October 30, 2026, 6:43 PM EDT) -- A hedge fund manager is seeking to recover nearly $40 million in foreign account reporting penalties, telling the U.S. Court of Federal Claims that the IRS violated his due process rights and administrative rules in imposing fines linked to his bankrupt Texas tycoon father's international accounts....

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