Isaac Hoenig

Sep 13, 2024 | jdsupra.com | Adam Young |Isaac Hoenig

IntroductionFor years, FBAR litigants have made the commonsense argument that large willful FBAR penalties, which can exceed the value of the unreported foreign accounts themselves, violate the excessive fines clause of the Eighth Amendment. Until recently, every court to consider this argument has held that the Eighth Amendment did not apply.