Current State of FBAR Penalties

Published: March 8, 2023, 1:52 p.m.

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\\nBrent chats with Rachel Sass about the U.S. Supreme Court case Bittner v. U.S., where the Court decided the non-willfulness penalties for FBARs is $10,000 per filing, not per account. This case changed the IRS’s long-time position. Brent and Rachel discuss the case, the reasoning, what it means for FBARs, and what they expect in the future.
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\\nRachel Sass is an experienced estate and tax planning attorney in Arizona.  Ms. Sass has helped clients throughout Arizona establish their individualized estate plans to ensure peace of mind for their families.
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\\nHer practice is concentrated in estate and tax planning, probate and trust administration, guardianship and conservatorship matters, and business law.  Ms. Sass is well-versed and enjoys helping her clients prepare estate plans in a wide variety of circumstances, from simple plans to complex plans for high net worth individuals and families.  She understands that the big picture must be looked at for long-term planning\\u2014including assisting business owners with developing succession plans, incorporating established charitable giving plans into an estate plan, and creating lasting family structures for generational wealth.
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\\nMs. Sass is committed to helping her clients create a straightforward estate plan for their loved ones, plan for potential incapacity, understand and plan for federal estate and gift tax, and establish their legacies.
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\\nShe is a distinguished speaker on estate planning.  Ms. Sass appears regularly as a guest on the popular Wealth & Law Podcast, and frequently speaks and writes on estate and tax developments.
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\\nMs. Sass is a Tucson-native and double Wildcat.  She graduated summa cum laude and with honors from the University of Arizona in 2013 with her bachelor\\u2019s in political science, and later graduated cum laude from the University of Arizona, James E. Rogers College of Law in 2018.  Rachel additionally graduated in 2021 from the Greater Tucson Leadership program.  She is a former Miss Arizona United States and enjoys serving her local community.  In her spare time, she and her husband and can be found hiking around Southern Arizona with their son and three dogs.
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\\nYou can find Rachel here: https://www.rimonlaw.com/team/rachel-sass/
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\\nIf you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/.
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