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Category: Press Releases - Page 16

Swiss Parliament Votes to Allow Disclosure of UBS Accounts

Press Releases

Posted in on June 16, 2010

In a blow to the Swiss tradition of banking secrecy, the Swiss Parliament voted today to allow UBS AG to carry out its agreement with the U.S. government. Under the terms of the agreement, UBS promised to disclose the identities of U.S. taxpayers with hidden accounts at the Swiss bank. In exchange, the U.S. government agreed to not prosecute UBS for its role in assisting U.S. tax evaders. UBS plans to disclose the names and account details of 4,450 accounts held by US citizens suspected of tax evasion.


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After Voluntary Disclosure Initiative Closes, IRS Moves On To Information Document Requests For Offshore Account Holders

Press Releases

Posted in on December 3, 2009

In the wake of the UBS AG fallout and the closing of its Offshore Voluntary Disclosure Initiative on October 15, 2009, the IRS continues to wage its attack on offshore tax evasion. One IRS tactic is to issue an Information Document Request – or IDR – to taxpayers suspected of having unreported foreign bank accounts requesting documents and materials related to the foreign accounts. DC tax attorney Kevin Thorn discusses the potential for more IDRs to be issued as the result of information received by the IRS from UBS and the significant participation in the Voluntary Disclosure Initiative.


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IRS Extends Offshore Amnesty Program Deadline to October 15

Press Releases

Posted in on September 21, 2009

On September 21, 2009, the IRS announced that it has extended the deadline until October 15, 2009for U.S. taxpayers with previously undisclosed offshore accounts to come forward and participate in the IRS Offshore Settlement Initiative Program.  DC tax attorney Kevin Thorn of Thorn Law Group, PLLC said the extension is welcome, but cautions “taxpayers should not wait another three weeks to decide to come forward.”    


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Deadline Fast Approaching for US Taxpayers to Enter IRS Offshore Account Settlement Program

Press Releases

Posted in on September 1, 2009

Thorn Law Group's Managing Partner, Kevin E. Thorn, urges taxpayers with undisclosed foreign accounts to come forward now to take advantage of the IRS settlement offer.


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Thorn Law Group Offers Taxpayers a New Alternative

Press Releases

Posted in on August 10, 2009

Thorn Law Group is counseling U.S. taxpayers on how to disclose their foreign accounts so as to, hopefully, avoid prosecution.

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"I have personal knowledge that the tax attorneys at Thorn Law Group have developed a nationwide practice guiding individuals, banks, trusts, foundations and other organizations through the processes involved in managing and disclosing offshore bank accounts. The goal for our attorneys is to resolve potential legal issues in advance in order to bring their offshore bank accounts into compliance with government regulations."
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