Archive by Year:2024
While the Internal Revenue Service (IRS) consistently enforces all aspects of federal tax compliance, it also prioritizes certain specific aspects of compliance from time to time. The agency’s recently released 2024 Financial Report provides some valuable insight into its enforcement priorities for 2025. Learn more from Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More
Pass-Through Entity Tax Compliance Will Be a Priority for the IRS in 2025
Hot Topics, Offshore Account UpdatePosted in on November 15, 2024
Offshore Account Disclosures: Ensuring FBAR and FATCA Compliance in 2025
Offshore Account UpdatePosted in on October 31, 2024
When Should U.S. Taxpayers Consider IRS Disclosures?
Offshore Account UpdatePosted in on October 18, 2024
Proactively disclosing violations of the Internal Revenue Code (and other federal tax laws) to the IRS provides an opportunity for U.S. taxpayers to resolve their tax controversies without facing an audit or investigation. But, while IRS disclosures can be extremely beneficial, they can also be extremely risky. As a result, informed decision-making is required, and making informed decisions starts with engaging an experienced Washington D.C. tax attorney who can guide you forward.
Read MoreIRS: $1.3 Billion Collected from Delinquent High-Income Taxpayers in the Past Year
Offshore Account UpdatePosted in on September 30, 2024
The Internal Revenue Service (IRS) has collected $1.3 billion in delinquent taxes from high-income and high-net-worth taxpayers over the past 12 months. These recoveries are the result of two ongoing initiatives specifically focused on high-income and high-net-worth taxpayer compliance. If you fall into one (or both) of these categories, keep reading to learn more from Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
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