The Eleventh Circuit held that three penalties of 23 assessed against a taxpayer for failure to file Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial ...

A Report of Foreign Bank and Financial Accounts must be filed by a U.S person with financial interests in or authority over certain foreign accounts. If you’re a U.S. citizen living abroad, it ...

Prior to 2023 and 2024, taxpayers faced significant challenges in contesting penalties for failing to report foreign accounts via the Foreign Bank and Financial Accounts (FBAR). However, recent court ...

The Report of Foreign Bank and Financial Accounts (FinCEN Form 114) commonly called the FBAR is a crucial reporting requirement for U.S. persons with foreign financial accounts. With the deadline for ...

U.S. citizens and residents with financial interests in foreign accounts that exceed $10,000 at any time in a year must file an FBAR. The failure to file an FBAR can be costly. If the government shows ...

File this one under “Studies We Wish Had Let Us Remain Ignorant.” Scientists at the University of Arizona decided to investigate whether closing the toilet lid before flushing reduces ...

Just like the great debate over which way the toilet paper roll goes, there is a similar spat over flushing: lid open or closed? Scientists have weighed in with their own woeful conclusion: Neither is ...

The Report of Foreign Bank and Financial Account, or FBAR, is an annual informational tax report that must be filed by certain U.S. individuals and legal entities to report their foreign bank accounts ...

The Supreme Court decision in Bittner v. U.S. finally dispelled the confusion among practitioners and taxpayers regarding penalties associated with the Bank Secrecy Act's penalties. The act and its ...