In the United States, federal income taxes are “pay-as-you-go.” As the Internal Revenue Service (IRS) explains, this means that taxpayers “must pay most of their tax throughout the year in which their income is earned or received.” For those who don’t have federal taxes withheld from their paychecks, this means making quarterly estimated tax payments. So, what if you failed to pay estimated taxes to the IRS in 2024? Washington D.C. IRS tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.Read More

The Internal Revenue Service (IRS) has adopted new regulations that establish disclosure requirements for certain partnership “basis shifting” transactions. These new disclosure requirements apply to both future transactions and transactions closed within a six-year lookback period, and failure to comply can expose partnerships, individual partners and their advisors to substantial liability. Learn more from Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More

If you’ve just experienced an IRS raid, you probably have a lot of questions. But, there are also several critical questions that you might not necessarily know to ask. In this scenario, informed decision-making is critical, and there is a lot of information that you need to ensure that you are presenting an effective defense. Learn more from Washington D.C. criminal tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More

It’s hard to believe, but it has now been five years since COVID-19 started making headlines around the globe. A lot has happened since that time. During the pandemic, the federal government launched several relief programs, and not long after, it began raising concerns about widespread fraud. As Washington D.C. criminal tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, uncovering and prosecuting pandemic-era fraud remains a top priority for the Internal Revenue Service (IRS) heading into 2025.Read More

While the Internal Revenue Service (IRS) consistently enforces all aspects of federal tax compliance, it also prioritizes certain specific aspects of compliance from time to time. The agency’s recently released 2024 Financial Report provides some valuable insight into its enforcement priorities for 2025. Learn more from Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More