USA v. Isac Schwarzbaum
Case Number:
22-14058
Court:
Nature of Suit:
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September 03, 2024
11th Circ. Trims $12.6M FBAR Fine In 8th Amendment Split
Some of the $12.6 million in penalties the IRS on imposed a man for willfully failing to report foreign bank accounts were in violation of the Eighth Amendment's bar on excessive fines, the Eleventh Circuit ruled, creating an apparentĀ circuit split.
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December 06, 2023
11th Circ. Questions Whether $18M FBAR Penalty Is Excessive
The Eleventh Circuit questioned Wednesday whether $18 million in tax penalties against a man who failed to report his foreign bank accounts may have breached the U.S. Constitution's bar on excessive fines, with one judge calling the issue the most serious in the case.