Tag: FBAR

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March 13, 2023

U.S. Supreme Court Rules Against the IRS on Critical FBAR Issue

The U.S. Supreme Court recently weighed in on an issue in the Bank Secrecy Act (BSA) that has split two federal courts of appeal. The 5-4 ruling in Bittner v. U.S. is welcome news for U.S. residents who “non-willfully” violate the law’s requirements for the reporting of certain foreign bank and financial accounts on what’s generally known as an FBAR. FBAR stands for the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts. FBAR Reporting Requirement The… Read more ›

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