Supreme Court case on offshore accounts could slash penalties for undisclosed assets
For Alexandru Bittner, a U.S. and Romanian dual citizen who lived abroad for years, a looming decision by the U.S. Supreme Court will mean the difference between owing the IRS $50,000 and owing it $2.7 million.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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