Experienced Tax Attorneys

Call Us Confidentially Now: 202-349-4033

Call us confidentially now:

Confidential & Experienced Tax Lawyers

Get Help Now: 202-349-4033

News & Events

Category: News - Page 5

Tax Evasion Crackdown Affecting Ex-Pats


Posted in on October 30, 2014

Americans living abroad are experiencing significant financial consequences as a result of recent crackdowns on tax evasion. Many of the expatriates who live outside of the United States indicate that their financial accounts are being closed; they are being denied partnerships and promotions in business; and their relationships with non-American spouses are being strained.

Read More

OVDP: Willful vs. Nonwillful Violators

Hot Topics, News, Offshore Account Update

Posted in on September 25, 2014

If you have any offshore financial accounts, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR) to alert the Internal Revenue Service to your foreign investments. A failure to file FBARs can led to financial penalties, which in some cases have exceeded the value of the money kept in the foreign account. 

Read More

Prison Time Could Result from Undisclosed Offshore Accounts

Featured, Hot Topics, News, Offshore Account Update

Posted in on September 16, 2014

The Internal Revenue Service and the Justice Department have been making a major effort to crack down on offshore accounts that U.S. citizens do not declare. In addition to allowing tax payers to face reduced penalties if they voluntarily report these accounts through an Offshore Voluntary Disclosure Program (OVDP), the authorities have been making deals with Swiss banks to turn over information on accounts in exchange for lesser penalties or avoiding prosecution.  

Read More

Tradition of Secrecy in Swiss Banks Threatened by Disclosure Requirements

News, Offshore Account Update

Posted in on August 26, 2014

Strict privacy laws have made banking an essential pillar of the Swiss economy. However, new treaties designed to prevent tax cheating through the use of offshore accounts are threatening the tradition of secrecy in Swiss banks. This has created upheaval within the industry. It is also raising concerns among U.S. taxpayers that money kept in offshore Swiss accounts may not be as safe, or as secret, as it used to be.  


Read More

Too Many Taxpayers Not Benefitting from Streamlined Amnesty

News, Offshore Account Update

Posted in on August 19, 2014

Offshore voluntary disclosure programs (OVDP) make it possible to report offshore accounts to the Internal Revenue Service that you should have reported on in the past and didn’t. OVDP allows you to alert the IRS that you did not file the required Report of Foreign Bank and Financial Accounts (FBAR) that you must file each year. Streamlined OVDP procedures limit the penalties that you face for a failure to file the required forms, and also provide amnesty so you will not have to worry about criminal prosecution.  

Read More

Thorn Law Group

Get Trusted Help Now

Over 80 years of expertise for your complicated tax law issues.

Back to the Top

Hear What Our Clients Have To Say

"Kevin Thorn, Managing Partner of Thorn Law Group, is an excellent adviser. My family and I are US citizens living in Europe and the US. Mr. Thorn helped us to understand our opportunities for international investments and estate planning issues so that my siblings and I may continue to further the growth of our businesses, to care for our aging parents and provide for our children. Mr. Thorn and his team were sensitive to our family's needs and helped us identify and understand our options and potential risks associated with US and international activity."