Justices Urged To Ax Harsher Foreign Account Tax Penalties

By Theresa Schliep (August 25, 2022, 4:11 PM EDT) -- The U.S. Supreme Court should undo a decision that the IRS can assess penalties on each inadvertently undisclosed foreign account rather than taking the more lenient approach of assessing the penalty once annually, the U.S. Chamber of Commerce said Thursday....

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