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FBAR Regulations (2019) – Courts Split on IRS Willful Penalty Maximum

FBAR Regulations (2019) – Courts Split on IRS Willful Penalty Maximum When congress increased the penalties for FBARs (Report of Foreign Bank and Financial Accounts, aka FinCEN 114) – the regulations ‘Regs’ were not updated to coincide with the new law. Common Questions include: What is the FBAR? What is a Regulation? What is an…