Pa. Court Flubbed 'Willfulness' In Tax Case, 3rd Circ. Told

Law360 (April 27, 2018, 4:55 PM EDT) -- The U.S. government has urged the Third Circuit to reverse a Pennsylvania federal judge's decision to let a pharmaceutical CEO duck a nearly $1 million tax penalty over an undisclosed Swiss bank account, arguing the lower court wrongly raised the bar for showing willful conduct.   

U.S. District Judge Michael M. Baylson in September had found that Arthur Bedrosian, the CEO of generic drug maker Lannett Co., may have been negligent when he failed to report a Swiss bank account with UBS that held roughly $2 million to the Internal Revenue Service in a 2007 Foreign Bank and Financial Accounts form....

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