A 1500% penalty rate on the taxes avoided/FBAR penalty, is imposed in a California case.
- Is a 1500% penalty constitutionally permissible?
- Of course the Defendant knowingly and voluntarily plead guilty, but should the IRS CID even be able to have the leverage to force someone to this type of penalty?
In a recent California IRS FBAR prosecution, defendants agreed to effective FBAR penalty rates of over 1500% of taxes evaded. Get the hidden story for bank accounts in Israel and Luxembourg.
Still have unreported income from a Isreali Bank?
Felling a Bit Faclept?
Contact the Tax Lawyers of Marini & Associates, P.A.
Toll Free at 888-8TaxAid (888 882-9243).
Read more at: Tax Times blog