When Can Businesses Deduct Research and Experimental (R&E) Expenditures?
Offshore Account UpdatePosted in on August 29, 2025
Archive by Year:2025
Among several tax-related provisions in the One Big Beautiful Bill Act (OBBBA) that President Trump signed into law on July 4, 2025 is a provision that permits the immediate deduction of research and experimental (R&E) expenditures. For businesses that have qualifying R&E expenditures, this provision has the potential to afford substantial short-term tax savings. However, businesses will need to be careful when taking R&E deductions as well—as doing so improperly could trigger IRS scrutiny along with additional liability for interest and penalties. Learn more from Washington D.C. business tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More
Criminal Tax Investigations Involving Gambling Winnings: What Bettors Need to Know
Hot TopicsPosted in on August 15, 2025
Offshore Accounts: When is Voluntary Disclosure to the IRS Required?
Offshore Account UpdatePosted in on July 31, 2025
If you are a U.S. taxpayer and you own (or control) offshore accounts, you may have an obligation to disclose your offshore accounts to the federal government. This obligation does not go away—and the longer you wait to disclose your offshore accounts, the more risks you can face. Learn more from Washington D.C. international tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreOne Big Beautiful Bill: Key Changes for the 2025 Tax Year
Offshore Account UpdatePosted in on July 17, 2025
President Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB has several potential implications for U.S. taxpayers—including potential implications for the 2025 tax year. In this article, Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, provides an introduction to what both individual and corporate taxpayers need to know.
Read MoreWhat if You Missed the June 16 Filing Deadline for U.S. Taxpayers Living Abroad?
Offshore Account UpdatePosted in on June 30, 2025
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