BPR:
An 82-year-old grandmother from Boston is headed to the Supreme Court after the IRS demanded she pay $2.1 million in penalties for failing to file the proper banking form.
When antisemitism and fascism began taking hold in 1930s Germany, Monica Toth’s family fled to Argentina. There, Toth was born in 1940.
At 22, Toth immigrated to the United States, where she married and, in 1980, became a naturalized citizen.
Toth’s father became quite a successful businessman in Buenos Aires, and prior to his death in 1999, he opened for his daughter a Swiss bank account, in which he placed roughly $4.2 million in the event his little girl may one day have to flee the persecution of her government as he once had done, the New York Post reports.
U.S. law requires nationals or permanent residents to file a one-page form called a “Foreign Bank and Financial Accounts” report (FBAR) if they have a foreign bank account with a balance greater than $10,000. The FBAR must be submitted to the IRS every year.
Ignorant of the requirement until 2010, Toth was audited by the IRS. She promptly filed five years’ worth of FBAR reports and paid $40,000 in back taxes, according to the Institute for Justice, a non-profit dedicated to ending “widespread abuses of government power” and protecting the constitutional rights of Americans.
The IRS could have thanked Toth for paying the owed taxes in full as soon as she was made aware of her error, but instead, the agency deemed her reporting violation to be “reckless” and “willful,” and demanded that she fork over more than $2 million — the maximum civil penalty they could impose. more
Soulless fucking bastards.
You aint seen nothin’ yet, just wait til 87,000 newly minted IRS thugs hit the streets.
So taxes on 4.2 mil are approx 50%, penalties 2.1 mil, oh I see, they want it all. Fucking dicks. I’ll bet they have that account locked up too.
The big guy wants his 10%.
F-FBAR. I am very familiar with FBAR. American citizens living out of the country have several things they need to file as well as their taxes.
If I were the treasurer of a PTA and I could sign checks, I would have to include that account on my FBAR.
I used to have to file another form as well but with the electronic tracking of accounts I didn’t have to do that anymore after 2016 or so.
And woe be unto you if you are an American citizen living in Canada and open a tax-free savings account (the Canadian equivalent of a Roth IRA). The US government does not recognize it as a retirement account — they look at it as a business account and the paperwork is horrendous. It is one of those things that you would need an accountant to fill out for you at $800 a pop. I didn’t realize it at the time and had such an account for three years. I had to pay a tax attorney $1200 to get me out of that one after I had made maybe $400.00 in interest.
That’s why the IRS wants 87,000 more agents.
Now that we are in the US, both of us may have to fill out an FBAR.
when is al sharpton gonna pay his years worth of back taxes with penalties and interest?
Never, he’s a charter member of the protected Negro class.
^^^^^^^ As I remember old Joe still owes back taxes too.
I WANT TO SEE HUNTER’S TAXES
IRS, Public servants? I think not.
More like Government enforcers, now armed and willing to use maximum force.
Freedom? Free to be taxed, sales tax, Property tax, gas tax, state income tax, education tax, Social Security tax, Federal income tax, etc.
What tax are we free from? We have no control of how our tax dollars are spent by government and no say when they decide to raise more taxes.
Freedom indeed.
Compared to the elite of today and their 87,000 new IRS Thugs, DOJ, FBI, ATF, and armed regulatory agencies; King George the III was a piker as he sent 50,000 Soldiers to subdue the revolutionary Patriots.
Both the present day elites, congress, and the elite British Parliament, King George III, used taxation without representation to limit freedom and control citizens by physical force.
It appears History is repeating itself.
87,000 new IRS agents. Think about that.
They are a financial Gestapo. It’s perfectly obvious these bastards will be loosed upon those of us on Aldolph Pedo McPicklebrains list.
The Kenyan Queer started the list and you can bet every single registered Republican abd Libertarian is on it. I guarantee every IOTW critter is on it.
I like what FL just did creating a reporting and monitoring branch of state government to ride herd on IRS actions in FL. You can bet 98% of the hurt will be put on patriots wuth 2% on Demonrats and the “wealthy”.
State watchdogs need to be in place in every state. Next year will be the first time I am due to catch a break from the annual ball busting I have endured for decades. I will let you know how that goes.
I’m not holding my breath.
At least this woman had the resources to go to court. If she wins the money goes to her lawyers instead of the IRS.
Oh yeah, they should have named that report then FUBAR
I need to start reading the article before commenting.
A foreshadowing of the 87,000 army if IRS soldiers coming our way, unless we take Congress and the GOP does away with them. (I have hope for the former, but no hope for the latter.)
know what we need? 87,000 more IRS agents
Don’t forget the REV…POS Al Sharpton!
You’d better hope those 87,000 new IRS Agents are all bachelors…same for the New York State gun confiscators.
My folks received an official letter from the state of Indiana last week that stated that they owed around $500 property taxes. That amounts to not much in the big picture, but the tone & typeface of the letter is what is so galling. In huge caps, the state DEMANDS payment of said taxes ASAP or my elderly parents will be facing jail time if they do not COMPLY. Think about that, $500 will be spent by these thieves in a flash for some stupid entitlement program & then the cycle will repeat. It is NEVER enough, just more NOW. And the lefties wonder why regular(normal)people hate the IRS & state tax collectors. They do all they can to dodge taxes while ordering us to pay up.
Holy Shit;
the IRS has finally met their match.
Talk about picking the low hanging fruit….
The IRS has found another light-weight they feel comfortable with harrassing.
See folks? It\’s always better to pay the Dane.
As always, the poor woman’s money will go directly into the pockets of Joe Biden’s illegal and greed-infested IRS agents just as they hid taxpayer payment checks, refunds, receipts, and taxpayer files hidden in an investigation of IRS corruption in IRS offices dropped ceilings during the 1980s, and likely continues to present day.
Now we will get 87,000 armed agents to resolve the problem of a confusing tax system
the IRS is also spelled theirs. they refer to the portion of your check you get as uncollected revenue. They think that anything you keep is money’s out of their collective pockets.
I like physical silver, collect small amounts when the price is low, never put enough away that would trigger an audit, never trusted the newfangled ETF’s that are out there.
If you can’t physically hold and defend it, it wasn’t yours to begin with.