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News & Events

Archive by Year:2014 - Page 4

Failure to Disclose Offshore Accounts Could Cost U.S. Taxpayers 50% of Their Accounts’ Value: Deadline to Disclose is August 3

Press Releases

Posted in on July 15, 2014

Kevin E. Thorn, Managing Partner of Thorn Law Group discusses the looming 50% IRS penalty for not disclosing hidden foreign bank accounts prior to August 4, 2014, and the effect that this 50% penalty may have on U.S. Taxpayer with undisclosed foreign bank accounts.

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Is OVDP Right For You?

Featured, News, Offshore Account Update

Posted in on July 6, 2014

The IRS Offshore Voluntary Disclosure Program (OVDP) allows taxpayers the opportunity to come forward and disclose offshore accounts that they may not have previously reported to the Internal Revenue Service as required.  Those who come forward may avoid criminal prosecution and avoid the harsh penalties that they could otherwise face if the government discovers the account before a disclosure is made. 

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Offshore Voluntary Disclosure Program Explained by Washington DC IRS Voluntary Disclosure Attorney – Kevin Thorn

Hot Topics, News, Offshore Account Update

Posted in on June 24, 2014

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IRS Announces Major Changes to its Amnesty Program: Last Chance For U.S. Taxpayers to Voluntarily Declare Undisclosed Overseas Accounts

Offshore Account Update, Press Releases

Posted in on June 20, 2014

Kevin E. Thorn, Managing Partner of Thorn Law Group, discusses the new 2014 IRS Amnesty Program and the impact that the new requirements may have on U.S. taxpayers who have undisclosed overseas accounts.

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FBAR Penalties Set New Record


Posted in on June 18, 2014

A failure to file an annual Report of Foreign Bank and Financial Accounts (Form TD F 90-22.1) has significant consequences for investors with foreign bank accounts, warn Washington DC IRS lawyers. One recent case illustrated just how severe those consequences can be. 

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"Kevin E. Thorn and the tax attorneys at Thorn Law Group are exceptional. When I came to them, I had just received a letter from the Department of Justice concerning an undisclosed bank account at a Swiss bank. I thought I was going to go to jail and lose everything I had worked for just because my family and my business are international. Mr. Thorn's knowledge of the tax laws and his skills in presenting my situation to the IRS and Department of Justice proved superior!"
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