Overseas Bank Account Fines Questioned at US Supreme Court

news.bloomberglaw.com

4 pointslemaudit4 comments

I'd like to see an honest conflict of interest statement from the Justices on this case.

What conflict of interest do you envision?

This case is primarily about US citizens living in another country (and in this case, with dual nationality), having multiple local bank accounts, and not reporting them.

Accounts are easy to create. Eg, https://www.usbank.com/financialiq/manage-your-household/per... describes using multiple savings accounts to help with budget organization.

According to the linked-to piece, each of these needs to be reported, and each are subject to the maximum penalty, even though they are really just different buckets in the same bank.

I would expect that, like Mitt Romney, we'd find out that a lot of the justices have some weird bank accounts going on.

Justices also have domestic bank accounts.

Is there a conflict of interest when they pass judgement on domestic banking?

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