FBAR Reckless Disregard Penalty -- Willful or Non Willful

https://www.goldinglawyers.com

Reckless disregard is a lower standard of willful.

It does not require intent, but rather behavior which shows the U.S. person could have known and/or could have filed the FBAR. The same 50% or $100,000 penalties apply.

The FBAR cases generally stand for the proposition that as long as the case is not "criminal," the willful penalty standard can be met:

-Without a showing of intent; and
-By a mere preponderance of the evidence

- Recklessness" is an objective standard that looks to whether conduct entails "an unjustifiably high risk of harm that is either known or so obvious that it should be known." Safeco, 551 U.S. at 68 (internal quotation marks and citation omitted).

Видео FBAR Reckless Disregard Penalty -- Willful or Non Willful канала Golding & Golding International Tax Lawyers