Jury Finds 150% FBAR Penalty Applicable

by Igor Drabkin | Jun 2, 2014 | FBAR, Internal Revenue Service, Offshore Income, Tax Collection

In the case of USA v. Carl Zwerner, the jury found that willful FBAR penalties of 50% of the account value applied to multiple years, thus, making the aggregate FBAR penalty equal to 150% of the account balance.