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News & Events

Archive by Year:2009 - Page 5

New IRS Unit Dedicated to Investigating U.S. Taxpayers with Undisclosed Offshore Accounts

Offshore Account Update

Posted in on September 14, 2009

The IRS recently reaffirmed its commitment to combating offshore tax evasion by forming a new elite unit of professionals dedicated to investigating and auditing offshore tax evasion by U.S. taxpayers.

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New American tax unit dedicated to hunt down tax evaders

Articles & Publications, News

Posted in on September 14, 2009

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.

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Deadline Fast Approaching for US Taxpayers with Undeclared Offshore Accounts to Enter IRS Settlement Program

Offshore Account Update, UBS / HSBC

Posted in on September 11, 2009

IRS Commissioner Douglas Schulman announced that the September 23 deadline for U.S. taxpayers with undisclosed foreign bank accounts to come forward and participate in the Offshore Account Settlement Initiative will not be extended.   Thus, U.S. taxpayers with accounts in foreign banks have just three weeks to make a voluntary disclosure of their accounts to the IRS or risk facing increased monetary penalties and potential criminal prosecution. - See more at: https://www.thorntaxlaw.com/blog-cat.php?category_id=13#sthash.Zwlo8rQx.dpuf

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New IRS Unit Dedicated to Investigating Undisclosed Offshore Tax Accounts

Articles & Publications

Posted in on September 9, 2009

The IRS recently reaffirmed its commitment to combating offshore tax evasion by forming a new elite unit of professionals dedicated to investigating and auditing offshore tax evasion by U.S. taxpayers.  Kevin Thorn of Thorn Law Group, PLLC 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.  Said Thorn, “The IRS’s pursuit of U.S.taxpayers with money and assets hidden in offshore accounts is much more far-reaching than just its inquiry into the UBS accounts.”

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UBS reached a final deal with the US Department of Justice and the Internal Revenue Service: it will disclose the names and account details for more than 4,450 Americans suspected of tax evasion

Offshore Account Update, UBS / HSBC

Posted in on September 8, 2009

But do not breathe a sigh of relief just yet.  The criteria used to refine the list is a closely-guarded secret.  Any UBS depositor is still at risk.  We simply cannot know for sure for whom or what the US government is looking. 

 

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"I have personal knowledge that the tax attorneys at Thorn Law Group have developed a nationwide practice guiding individuals, banks, trusts, foundations and other organizations through the processes involved in managing and disclosing offshore bank accounts. The goal for our attorneys is to resolve potential legal issues in advance in order to bring their offshore bank accounts into compliance with government regulations."