Interest, penalties, and administrative costs
| Currency | Current through May 31, 2023 |
| Citation | 31 C.F.R. §901.9 |
-
- This document is available in original version only for vLex customers
View this document and try vLex for 7 days - TRY VLEX
- This document is available in original version only for vLex customers
30 cases
-
United States v. Sinyavskiy
...Pre-Judgment Interest Charges Under 31 U.S.C. § 3717(a)(1); Late-Payment Penalties Under 31 U.S.C. § 3717(e)(2) and 31 C.F.R. §§ 5.5(a) and 901.9 Pursuant to 31 U.S.C. § 3717(a)(1), the Secretary of the Treasury “shall charge a minimum annual rate of interest on an outstanding debt .. equal......
-
United States v. Garrity
...federal agencies to collect prejudgment interest against persons and specifies the interest rate.") Interest does not compound,Page 21 31 C.F.R. § 901.9(b)(2), and it does not accrue on late payment penalties, 31 U.S.C. § 3717(f). Interest and late payment penalties begin to accrue on the d......
-
United States v. Goldsmith
...payment penalty 'of not more than 6 per cent per year for failure to pay part of a debt more than 90 days past due'"); 31 C.F.R. §§ 5.5(a), 901.9(d) (noting that "agencies shall charge a penalty, pursuant to 31 U.S.C. 3717(e)(2), not to exceed six percent a year on the amount due on a debt ......
-
United States v. Gonzales
...the head of an agency “shall charge a minimum annual rate of interest on an outstanding debt on a United States Government claim”); 31 C.F.R. § 901.9(a)(providing that “agencies shall charge interest, penalties, and administrative costs on debts owed to the United States pursuant to 31 U.S.......
Request a trial to view additional results
3 firm's commentaries
-
Developing a Strategy to Fight FBAR Penalties
...calculation of administrative costs is based on actual costs incurred or upon estimated costs as determined by the assessing agency (31 C.F.R. §901.9(c)). Based on recent demand letters sent by the IRS (Letter 3708), the additional debt-servicing fee arising from the referral to Treasury’s ......
-
Developing A Strategy To Fight FBAR Penalties
...calculation of administrative costs is based on actual costs incurred or upon estimated costs as determined by the assessing agency (31 C.F.R. §901.9(c)). Based on recent demand letters sent by the IRS (Letter 3708), the additional debt-servicing fee arising from the referral to Treasury's ......
-
A Closer Look Into FBAR Late Payment And Interest Penalties Through The Zwerner Settlement – What Were The Penaties And Interest? - How Were They Computed?
...percent per year penalty computed from the date of the assessment of the FBAR penalty, computed pursuant to 31 U.S.C. 3717(e)(2), and 31 C.F.R. § 901.9(d). In Zwerner, the penalty appears to have been computed at 6%. Based upon my review, the late payment penalty appears to be computed at 6......