March 2023 - Page 2 of 2 - One Hour Tax Service

SCOTUS Holds FBAR Penalty Determined on Per-Report Basis

by One Hour Tax Service | Mar 10, 2023 | Tax Tips and News

Taxpayers with foreign bank accounts who forgot to file an annual Report of Foreign Bank and Financial Accounts (FBAR) received some good news at the end of February. In Bittner v. United States, the Supreme Court held that the penalty for nonwillful failure to file...

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SCOTUS Holds FBAR Penalty Determined on Per-Report Basis

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