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SportsIRS Announces New Options to Amend Returns, But Taxpayers Need to Be Careful
Hot Topics, Offshore Account UpdatePosted on June 30, 2022
News
Archive by Month: June 2022
The Internal Revenue Service (IRS) recently issued a News Release announcing that U.S. taxpayers now have more options to amend their tax returns electronically. But, while amending a tax return is the right decision in some cases, it can be risky in others. As Massachusetts federal tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, taxpayers who have provided inaccurate information to the IRS will often need to explore other options.Read More
IRS Crackdown on Gambling and Gaming Leads to Prosecution of Boston Police Officer
Hot Topics, Offshore Account UpdatePosted on June 16, 2022
The Internal Revenue Service (IRS) is cracking down on taxpayers suspected of failing to report income from gambling and gaming activities. This includes individual taxpayers suspected of failing to report winnings as well as casinos and other businesses suspected of underreporting their gaming-related revenues. Recently, this crackdown hit home in Boston, when a local police officer pled guilty to gambling-related tax fraud. Here are some important insights from Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:
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