Charles Ruchelman Comments on How Moore Answers Novel FBAR Questions
Charles M. Ruchelman spoke with Tax Notes Today concerning Moore v. United States, which found that James Moore was subject to civil penalties for FBAR violations and that the Eighth Amendment's prohibition on excessive fines was not violated. As a result, the case answered several questions related to the application of penalties for failure to file foreign bank account reports, issues surrounding the standard of review, and an Eighth Amendment challenge for excessive fines. For the complete article, please visit Tax Notes Today's website (subscription required).
Excerpt taken from the article "Moore Answers Novel FBAR Questions" by Andrew Velarde for Tax Notes Today.
Moore is "a very good case for the tax administration system," said Charles M. Ruchelman of Caplin & Drysdale Chtd. "It has very helpful direction to the IRS that the agency does need to consider the Administrative Procedure Act and comply with it when making a determination to the amount of the FBAR penalty."