Farhy v. Commissioner and its impact on foreign information reporting penalties. 19 April 2023
The Tax Court’s recent opinion in Farhy v. Commissioner marks a dramatic shift in the treatment of foreign information reporting penalties. Under Farhy, the IRS will no longer be able to assess or administratively collect such penalties. A panel of experts, including Edward M. Robbins, Jr., who successfully represented the taxpayer in Farhy, will discuss the background of the case, the impact of Farhy upon the IRS’s ability to impose foreign information reporting penalties, and what it may mean in the future for taxpayers and their advisors.
- Edward M. Robbins, Jr., Esq.– Hochman Salkin Toscher Perez PC
- Robert S. Horwitz, Esq.– Hochman Salkin Toscher Perez PC