Gov't Can Assess $40K, Not $160K, FBAR Penalty, Court Says

By David Hansen · March 17, 2021, 6:46 PM EDT

A New Jersey federal court has reduced a taxpayer's penalty for inadvertently failing to file foreign bank account reports from $160,000 to $40,000 after ruling he should only pay one penalty...

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Case Information

Case Title

UNITED STATES OF AMERICA v. GIRALDI

Case Number

2:20-cv-02830

Court

New Jersey

Nature of Suit

Taxes

Date Filed

March 16, 2020