Case: Willfulness Includes Recklessness in Failure to File FBAR Penalty (11th Cir.) (IRC §6672)

Taxpayer willfully failed to file a Report of Foreign Bank and Financial Accounts (FBAR) for 2007, the Eleventh Circuit Court of Appeals held, affirming a district court’s grant of summary judgment in favor of enforcing the IRS’s penalty assessment. Where Taxpayer argued on appeal that the district court applied an incorrect standard of willfulness and erred in concluding that there were no genuine issues of material fact as to whether his conduct rose to the violative level, the Eleventh Circuit cited precedent in holding that willfulness includes reckless disregard of a known or obvious risk, and said the evidence was ...