In the News

"Most believed the threshold would have been $1 million-plus but it appears the government is holding to its word and looking at conduct more than amounts and is going after taxpayers across the board," said Kevin Thorn, a Washington-based tax lawyer.

"The IRS on September 21 announced it is extending by several weeks - from September 23 until October 15 - the filing deadline for taxpayers with offshore accounts who want to take advantage of the Service's special voluntary disclosure program."

Kevin Thorn, Managing Partner of Thorn Law Group, PLLC will be speaking in Chicago to the American Bar Association Section of Taxation on the IRS offshore account voluntary disclosure program for U.S. taxpayers with undisclosed foreign bank accounts...

Kevin Thorn of Thorn Law Group states that taxpayers with undisclosed foreign accounts should take careful notice of the IRS’s commitment of resources to a long-term strategy for pursuing unreported income and assets kept in undisclosed offshore accounts.

"The Swiss legal system is maintained, because the U.S. have promised to act on the basis of the current agreements and to ask for legal assistance again,"

The U.S. and Switzerland “have reached an agreement in principle on the major issues,” U.S. Justice Department attorney Stuart Gibson...

Hundreds of wealthy Americans are revealing they have offshore bank accounts as the U.S. and Swiss bank UBS AG negotiate to resolve a lawsuit seeking the identities…