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Mr. FBAR: How a $10,000 Rule Became an Expat Nightmare
November 19, 2025 - Participants include:
This is an AI generated podcast on an outline about the FBAR, created by John Richardson, which was discussed on IRS Medic.
Here we go ...
"Welcome to The Deep Dive. Today we dissect FBAR — its history, legal framework, and controversial enforcement against Americans abroad. We explain the $10,000 aggregate threshold, how FBAR differs from Form 8938, and the Treasury’s power to exempt groups like expatriates. The episode highlights the statutory discretion in penalties (the critical “may” vs “must”), the stark difference between civil and criminal standards, and landmark cases such as Bittner and Baribeau. We close by examining the real-world impact on U.S. citizens overseas and the difficult question of whether such enforcement drives renunciation of citizenship."
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By prepNovember 19, 2025 - Participants include:
This is an AI generated podcast on an outline about the FBAR, created by John Richardson, which was discussed on IRS Medic.
Here we go ...
"Welcome to The Deep Dive. Today we dissect FBAR — its history, legal framework, and controversial enforcement against Americans abroad. We explain the $10,000 aggregate threshold, how FBAR differs from Form 8938, and the Treasury’s power to exempt groups like expatriates. The episode highlights the statutory discretion in penalties (the critical “may” vs “must”), the stark difference between civil and criminal standards, and landmark cases such as Bittner and Baribeau. We close by examining the real-world impact on U.S. citizens overseas and the difficult question of whether such enforcement drives renunciation of citizenship."