Congress has long required taxpayers with interests in certain foreign bank accounts to report their holdings on Reports of Foreign Bank and Financial Accounts, commonly known as FBARs. As this column has previously discussed, willfully failing to report accounts exposes taxpayers to penalties of up to $100,000, or 50% of the balance of unreported accounts, while a lesser penalty of $10,000 applies to non-willful violations. See Jeremy H. Temkin, "Civil FBAR Penalty Litigation: No Reprieve for Taxpayers," N.Y.L.J. (Mar. 18, 2021) (willful violations); Jeremy H. Temkin, "US Supreme Court Gives Taxpayers an FBAR Win," N.Y.L.J. (Mar. 16, 2023) (non-willful violations).