Is There Still Hope for Taxpayers? Another Court Determines Previous IRS Guidance Limiting FBAR Penalty is Invalid... [ read ]
On July 13, 2021, the Second Circuit issued an opinion in United States v. Kahn, No. 19-3920 (2d Cir. 2021) affirming the trial court's grant of summary judgment against the defendants for FBAR penalties, plus statutory additions and interest, in the amount of $4,264,728.