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Supreme Court Holds FBAR Penalties Are Calculated Per Report

Constitutional Law Reporter

The statute imposes a maximum $10,000 penalty for nonwillful violations of the law. As explained by the Supreme Court, FBAR reports are designed to help the government trace funds that may be used for illicit purposes and identify unreported income that may be subject to taxation.

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Smith is No Longer in a Hurry: Special Counsel Moves To Slow Down District Court Judge

JonathanTurley

The question is whether Smith is considering a drastic move in light of the calendar and the ruling. That would certainly go against the grain of Smith, who has always pushed both the law and the calendar to the breaking point. Most were unnecessary, but Smith used his press conference to denounce the January 6th riot.

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