#schwarzbaum

[citizenshipsolutions]

Schwarzbaum - FBAR Penalties ARE Subject To The "Excessive Fines Clause"

Prologue – U.S. Citizenship And The Tax, Form and Penalty Club U.S. citizens are members of the world’s premier “tax, form and penalty club”. The law of Mr. FBAR is a testament to the American penchant for imposing penalties for various “form crimes”. One of most interesting issues is whether there are constitutional limits to the penalties that can be imposed for failing to file an FBAR. The…

[citizenshipsolutions]

Schwarzbaum - Willfulness In A Civil FBAR Penalty vs. Willfulness In A Criminal FBAR Penalty

Two kinds of “willful” FBAR penalties: Generally both “civil” and “criminal” FBAR penalties can be asserted. Conviction of a “criminal FBAR penalty” an result in incarceration. Willful FBAR Penalty 1 – The Civil Willful Penalty – 31 U.S.C. 5321(a)(5)(c) 31 U.S. Code § 5321 – Civil penalties (C) Willful violations.—In the case of any person willfully violating, or willfully causing any violation…