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: Offshore Account Update

IRS: Puerto Rico Act 60 Exemption Claims May Trigger Criminal Tax Audits

Offshore Account Update

Posted in on September 15, 2023

Puerto Rico Act 60 allows qualifying individuals and businesses to avoid federal income tax for both ordinary income and capital gains. However, while this was precisely the purpose for which the Act (and its predecessors—Puerto Rico Acts 20 and 22) was established, the Internal Revenue Service (IRS) is now cracking down on U.S. taxpayers who use the Act to avoid federal tax liability. Crucially, the IRS is pursuing criminal inquiries in some cases, and these IRS criminal tax audits present risks for both substantial fines and prison time.Read More

It’s 2023—Do I Still Need to Be Worried About ERC Fraud?

News, Offshore Account Update

Posted in on August 31, 2023

The Employee Retention Credit (ERC) program is one of several federal relief programs that saw high levels of fraud during the COVID-19 pandemic. While the ERC is still available for eligible businesses to claim retroactively, the Internal Revenue Service (IRS) and other federal authorities are actively targeting ERC fraud in 2023.Read More

The IRS is Targeting Tax-Free Distributions Under Maltese Pension Plans

Hot Topics, Offshore Account Update

Posted in on August 11, 2023

In 2011, the U.S.-Malta Tax Treaty started a gold rush of sorts. The treaty’s language arguably (and unintentionally) allowed U.S. taxpayers to open personal retirement plans in Malta, contribute appreciated assets, and then systematically take structured distributions without incurring federal tax liability on the plan’s interest or principal. This led to many taxpayers opening Maltese pension plans—with some avoiding tens of millions of dollars in federal income tax liability.Read More

My Application was Unsuccessful—Can I Still Be Prosecuted for PPP Fraud?

Offshore Account Update

Posted in on July 31, 2023

The Paycheck Protection Program (PPP) officially ended on May 31, 2021. But, while it has now been more than two years since lenders stopped accepting applications, fighting PPP loan fraud still remains a top federal law enforcement priority.Read More

Does My Employer Report My Income to the IRS?

Offshore Account Update

Posted in on June 30, 2023

For many people, federal income taxes take a big chunk out of their paychecks. While some taxpayers are entitled to a refund at the end of the year, it is possible to still owe more if your withholding doesn’t fully cover your federal income tax liability.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

"Mr. Thorn and the attorneys at Thorn Law Group were so knowledgeable about the IRS Voluntary Disclosure Program and about the way the IRS Criminal Investigation Division works. Mr. Thorn helped put my mind at ease and walked me through the whole Voluntary Disclosure process. With the help of Thorn Law Group, and Mr. Thorn specifically, we were able to get back into compliance and were able to avoid criminal prosecution."
M Patel