BREAKING: Judges to assess tax penalty limits for foreign accounts

By Theresa Schliep (June 21, 2022, 10:10 a.m. EDT) — The United States Supreme Court decided on Tuesday to hear a dispute over the maximum sentence for failing to disclose foreign bank accounts to the IRS in a case that could solve the limits of a penalty of $ 10,000 for undeclared accounts.

Judges will weigh in on the dispute between Alexandru Bittner and the federal government, who disagree on the proper application of the $10,000 penalty for an unintentional failure to disclose foreign accounts to the Internal Revenue Service, according to a list of commands. While the Ninth Circuit has ruled that the penalty can only be imposed once a year for each unintentional failure to file…

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