Foreign Bank Account: FBAR Litigation Victory for Green & Sklarz

Yesterday, a District Court Judge in Connecticut ruled in favor of our client at summary judgment and found that the non-willful penalty for failure to file an FBAR is capped at $10,000 per form, not per account, as had been argued by IRS and and DOJ. This was a matter of first impression for the Court and the ruling will impact many taxpayers. To date, the issue had only been decided by two other courts and they were divided on the issue. You can read the decision here: United States v. Kaufman Questions about this or other tax litigation matters?  Contact us at either egreen@gs-lawfirm.com or (203) 285-8545.   Eric L. Green Green & Sklarz LLC One Audubon Street, 3rd Floor New Haven, CT 06511 Ph. (203) 285-8545 egreen@gs-lawfirm.com www.gs-lawfirm.com