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FBAR Developments: A Case That Could Affect the FBAR “Escape Hatch” and the Supreme Court’s Decision in Bittner  


Author:  Alicea Castellanos.


Source: Volume 40, Number 03, Spring 2023 , pp.37-42(6)




Journal of Taxation of Investments

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Abstract: 

A narrow U.S. Supreme Court decision in Bittner has curtailed federal penalties in a major case involving failure to file FBARs. However, would an FBAR even be required if an “escape hatch” is used as a result of invoking a treaty? The pending decision in Aroestes, which was partially stayed by the district court while awaiting a decision in Bittner, could affect many FBAR non-filers in the future.

Keywords: Report of Foreign Bank and Financial Accounts (FBAR), tax treaties, Aroeste v. United States, Bittner v. United States, penalties

Affiliations:  1: Global Taxes LLC.

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