Access Denied Stamp in Red on White Background
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FBAR Penalties and the Treasury Offset Program: Tax Court Affirms IRS’s Denial of CDP Hearing

ByJustin Hughes

Introduction: In Jenner v. Commissioner, 163 T.C. 7 (Oct. 22, 2024) (link to opinion), the U.S. Tax Court held that the Internal Revenue Service (“IRS”) was under no obligation to provide a husband and wife with a collection due process (“CDP”) hearing prior to offsetting Social Security benefit payments under the Treasury Offset Program (TOP)….

Court Orders That Individual Must Repatriate $18+ million From Switzerland to Pay Willful FBAR Penalty Liability
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Court Orders That Individual Must Repatriate $18+ million From Switzerland to Pay Willful FBAR Penalty Liability

ByJustin Hughes

On Tuesday October 26, 2021, Judge Bloom for the District Court of the Northern District of Florida adopted a Magistrate’s recommendation to issue an order to compel repatriation of funds to satisfy a willful FBAR penalty and accrued interest of more than $18 million dollars.[1] The Magistrate’s Report and Recommendation was issued on June 30,…

Magistrate Recommends Order to Compel Repatriation of Funds to Pay FBAR Penalties

Magistrate Recommends Order to Compel Repatriation of Funds to Pay FBAR Penalties

ByJustin Hughes

Overview A recent federal magistrate’s recommendation highlights a practical battle between the U.S. Government and a Defendant that is seeking to avoid payment of a $15+ million FBAR penalty: what happens if all of the defendant’s assets are outside of the United States? In a federal suit to reduce the FBAR penalty to judgement, the…