Calif. Court Orders Ariz. Man To Pay $309k In FBAR Penalties
Paradise Valley's Robert Goldsmith has been ordered by a California Federal Court to pay $309k in fines for neglecting to disclose an inherited Swiss bank account from 2008 to 2010, stating that the evidence showed clearly that Goldsmith acted recklessly.
Roger Benitez, the U.S District Court Judge said Tuesday in a summary judgment released Tuesday, that Robert Goldsmith of Arizona's Paradise Valley declined to file timely his Swiss bank accounting notices for three years; 2008, 2009, and 2010. Roger Benitez was in agreement with the U.S. Government's case that Goldsmith's failure to disclose this account showed a rash reckless conduct akin to willfulness.
Robert according to the government's complaint, inherited a rather sizable Swiss bank account holding "hundreds of thousands of dollars" associated with his father's Mexico business. Goldsmith south at a point, to make use of the Internal Revenue Service's Offshore Voluntary Disclosure Initiative, granting civil and criminal immunity, but he eventually withdrew.
The case is U.S. v. Robert Goldsmith, case number 3:20-cv-00087, in the U.S. District Court for the Southern District of California.