USA v. Isac Schwarzbaum
Case Number:
20-12061
Court:
Nature of Suit:
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May 18, 2022
Fla. District Court Says It Still Has Say In FBAR Penalty Fight
A Florida man still faces penalties originally set at $18 million for not reporting foreign bank accounts, a federal district court ruled, saying it retained jurisdiction even after a circuit court remand for the Internal Revenue Service to recalculate penalties.
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January 26, 2022
Court Wrongly Ran Own Numbers In FBAR Row, 11th Circ. Says
The IRS must recalculate penalties it assessed against a Florida man who failed to disclose his foreign bank accounts after the Eleventh Circuit found that a lower court wrongly substituted the agency's calculations with its own $12.5 million penalty computation.