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202-349-4033


Confidential & Experienced Tax Lawyers

Get Help Now: 202-349-4033

News & Events

Category: Hot Topics

BBA Partnership Audits and the IRS’ Centralized Partnership Audit Regime: What Business Partners Need to Know in 2022

Hot Topics, Offshore Account Update

Posted in on June 16, 2022

Among the Internal Revenue Service’s (IRS) many priorities is enforcing partnerships’ federal income tax obligations. In recent years, the IRS has implemented two major programs focused specifically on partnership tax enforcement, and we expect to see increased activity under both of these programs in 2022 and beyond. In this article, Washington D.C. federal tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, discusses some of the implications of these recent developments for business partners:Read More

IRS CI is Targeting Cryptocurrency Cases Involving Fraud and Other Crimes

Hot Topics, Offshore Account Update

Posted in on January 21, 2022

Cryptocurrency enforcement has become a major priority for the Internal Revenue Service’s Criminal Investigations Division (IRS CI). The division seized $3.5 billion in cryptocurrency in 2021, which accounted for 93 percent of all seizures for the year. Although IRS CI is targeting individuals and organizations for tax crimes in some of these cases, it is pursuing other charges as well. Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.Read More

Can You Avoid Late FBAR Penalties Based on “Reasonable Cause?”

Hot Topics, Offshore Account Update

Posted in on October 29, 2021

Under the federal Bank Secrecy Act (BSA), U.S. taxpayers who own qualifying offshore accounts and other foreign financial assets are required to file a Report of Foreign Bank and Financial Accounts (FBAR) on an annual basis. Failure to comply with the BSA can lead to steep penalties—even if the failure is inadvertent. With this in mind, U.S. taxpayers who discover that they are behind on their FBAR filings must take proactive steps to come into compliance. As Washington D.C. international tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, this may mean submitting a statement of “reasonable cause.”

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Should Businesses Use the IRS’ Voluntary Classification Settlement Program (VCSP)?

Hot Topics, Offshore Account Update

Posted in on September 17, 2021

Improper classification of employees as independent contractors can lead to big problems with the Internal Revenue Service (IRS). But, the IRS also offers some options for businesses that want to voluntarily come into compliance. One of these options is the Voluntary Classification Settlement Program (VCSP). In this article, Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains when businesses might (and might not) want to use the VCSP.Read More

IRS Focuses on Puerto Rico as a Tax Haven

Hot Topics, News, Offshore Account Update

Posted in on July 21, 2021

The Internal Revenue Service (IRS) has begun to focus its resources on identifying tax havens in Puerto Rico. As Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, this has potentially significant implications for U.S. taxpayers who transfer their business to Puerto Rico seeking tax advantages. Kevin E. Thorn warns, that such transfers have triggered many IRS tax audits already, and more may be on the way in the future.Read More

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