On January 11, 2021 the U.S. District Court in Connecticut decided USA v. Kaufman and held that the maximum penalty for unintentionally failing to file FBARs is $10,000 per year. Not $10,000 per account. This is a major victory for taxpayers as the IRS has sought to use the non-willful FBAR penalty to exact large penalties from taxpayers, many of whom did not even know they had foreign accounts, who made honest mistakes.
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Green & Sklarz LLC
Attorney at Law
[email protected]
(203) 285-8545
Jeff’s practice is focused on representing businesses and individuals with complex financial litigation needs, including bankruptcy/bankruptcy litigation, creditor/debtor litigation, tax litigation, pension and employee benefits litigation, and commercial litigation. He regularly tries cases and appeals before Connecticut’s state and federal courts. Jeff has particular experience regarding the interplay between and among bankruptcy law, tax law, and ERISA.
Marcus Neiman Rashbaum & Pineiro
Partner
[email protected]
(305) 400-4260
Jeffrey A. Neiman is an accomplished trial attorney who focuses on white-collar defense, tax controversies, securities regulatory matters, and general litigation. Upon graduating with honors from law school at the University of Florida, Mr. Neiman was hired as a federal prosecutor through the prestigious United States Department of Justice Attorney General’s Honors Program. For nearly nine years, Mr. Neiman worked as an Assistant United States Attorney and Trial Attorney for the Department of Justice in South Florida and in Washington, D.C.