More partnerships, S-corporations, limited liability companies (LLCs) and trusts can expect to face scrutiny from the Internal Revenue Service (IRS) in 2025. The same is true for individuals who own these pass-through entities. The IRS recently announced the formation of a new pass-through field operations unit that will be “increase[ing] audit rates” in this area, with a specific focus on high-income taxpayer noncompliance. Learn more from Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.

The United States Supreme Court has recently ruled in favor of taxpayers in a significant case involving Foreign Bank Account Reporting (FBAR) requirements. The ruling addresses the penalty structure for non-willful violations of FBAR reporting obligations, emphasizing a per-report basis. This decision carries substantial implications for taxpayers and underscores the critical need for individuals facing FBAR-related challenges to secure the services of an experienced Washington DC tax attorney.