USA v. Isac Schwarzbaum
Case Number:
20-13989
Court:
Nature of Suit:
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October 06, 2021
11th Circ. Mulls If IRS Should Revisit $12.5M FBAR Penalty
An Eleventh Circuit panel is weighing whether there are grounds for the IRS to revisit a $12.5 million penalty against a Florida resident, who a district court found acted recklessly — but not knowingly — when he didn't report Swiss bank accounts.
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November 10, 2020
Floridian Asks 11th Circ. To Toss $12.9M FBAR Penalty
A Florida man's failure to file foreign bank account reports wasn't willful because his accountants and attorney advised him that filing the FBARs was unnecessary, he told the Eleventh Circuit in seeking to overturn a $12.9 million penalty.