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Category: Offshore Account Update

One Big Beautiful Bill: Key Changes for the 2025 Tax Year

Offshore Account Update

Posted 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 More

What if You Missed the June 16 Filing Deadline for U.S. Taxpayers Living Abroad?

Offshore Account Update

Posted in on June 30, 2025

If you are a U.S. taxpayer living abroad, June 16, 2025, was the deadline to file your annual tax return for the 2024 tax year. So, what if you missed it? Should you simply file a late tax return, or are there other (and better) options available? Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.Read More

The IRS Conducted Approximately 500,000 Audits in 2024

Offshore Account Update

Posted in on June 16, 2025

The Internal Revenue Service (IRS) recently released its annual Data Book for the 2024 fiscal year. It contains several notable insights for taxpayers—in particular those who may be at risk of facing audits or investigations for alleged tax law violations. Here, Washington D.C. IRS tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, shares his key takeaways for taxpayers.Read More

5 Mistakes to Avoid When Facing an IRS Audit

Offshore Account Update

Posted in on May 30, 2025

If you’re facing an Internal Revenue Service (IRS) audit, you need to be very careful. If you’re behind on your federal taxes, you could be facing substantial liability. At the same time, if you’re not behind on your federal taxes, you will still need to defend against the audit successfully to avoid the imposition of unwarranted liability for back taxes, interest and penalties. Learn more from the Washington D.C. tax lawyers at Thorn Law Group.Read More

The IRS is Encouraging Whistleblowers to Report Corporate Tax Fraud

Offshore Account Update

Posted in on May 16, 2025

Since its establishment in 2007, the IRS’ Whistleblower Office has awarded more than $1.3 billion to whistleblowers who have helped the agency recover more than $7 billion in delinquent taxes, interest and penalties. Now, the Whistleblower Office is revamping its operations to encourage even more whistleblowers to come forward. For corporate taxpayers, whistleblower complaints can create substantial liability exposure, and even when a whistleblower’s allegations are unfounded, avoiding unnecessary liability requires the representation of an experienced Washington D.C. tax lawyer.

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