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Zhanna Ziering Comments on FBAR Litigation

June 11, 2019, Tax Analysts

A defendant is fighting for judicial review that goes beyond the administrative record in a case in which the IRS is seeking penalties for a willful failure to file a foreign bank account report.

. . .

Zhanna Ziering of Caplin & Drysdale said cases like Rum's are “finally lifting the curtain on the inner workings of the IRS” when imposing willful FBAR penalties.

“The FBAR willful penalty has become a powerful weapon for the IRS, which should be used with discretion and not as a revenue raiser. The penalties should be imposed in cases where appropriate, after the facts are fully developed and taxpayers are offered the opportunity to provide explanation or reasonable cause defenses, which should be considered before decisions are made,” Ziering said. “The IRS should be taking notice of cases like Rum’s and ensuring that the agents working the FBAR cases are properly trained and that the procedures are adhered to.”

To view the full article, please visit Tax Analysts' website (subscription required).

Excerpt taken from the article “FBAR Litigant Fights for Review Beyond Administrative Record” by Andrew Velarde for Tax Analysts.


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