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Call Us Confidentially Now: 617-692-2989


Call us confidentially now:
617-692-2989


CALL US CONFIDENTIALLY NOW: 617-692-2989

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Category: Hot Topics

Despite Lack of Clarity, Cryptocurrency Investors Must Still Strictly Comply with Federal Tax Laws in 2020

Articles/News, Hot Topics

Posted on May 5, 2020

For cryptocurrency investors, the challenges of understanding how the Internal Revenue Code (IRC) applies to cryptocurrency transactions do not provide an excuse for non-compliance. As a result, as federal Tax Day approaches, individual and corporate taxpayers must ensure that they have a clear understanding of what they need to report on their federal returns. Contact Boston tax attorney Kevin E. Thorn today to get the answers you need and discuss your specific situation in greater detail.

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What Do Small Business Owners Need to Know about the IRS's New Fraud Enforcement Office?

Articles/News, Hot Topics

Posted on April 30, 2020

The Internal Revenue Service (IRS) has formed a new Fraud Enforcement Office that will share responsibility for targeting tax fraud in the small business sector. In a March 5, 2020 statement announcing the creation of the Fraud Enforcement Office, the IRS wrote that the new office (which is housed within the Small Business/Self Employed Division) will work, “in support of IRS efforts to detect and deter fraud while strengthening the [IRS’s] National Fraud Program.”

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IRS Announces “Unprecedented” Effort to Crack Down on Offshore Tax Evasion

Hot Topics, Offshore Account Update

Posted on January 28, 2020

On January 23, 2020, the Internal Revenue Service (IRS) announced the first major crackdown conducted by the Joint Chiefs of Global Tax Enforcement. In doing so, it sent a stern warning to U.S. taxpayers who have offshore accounts, and it signaled that taxpayers who fail to comply with the IRS voluntary disclosure requirements may be at risk in similar coordinated international law enforcement efforts in the coming years.

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What You Need to Know About Massachusetts Cannabis Business Taxes

Articles/News, Hot Topics

Posted on December 17, 2019

Massachusetts legalized marijuana for adult use in 2016 and began collecting taxes on the sale of marijuana in 2018. If you are currently operating a cannabis business or you are considering starting one, there are several things you need to know to ensure that you are in compliance with Massachusetts law. Understanding your tax responsibilities is critical to ensure the success and longevity of your business. If you have questions about your tax obligations, contact Boston cannabis tax attorney Kevin E. Thorn to ensure you are in compliance.

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Three Ways a Massachusetts Tax Attorney Can Help Your Cannabis Business

Articles/News, Hot Topics

Posted on December 17, 2019

If you are one of our state’s cannabis entrepreneurs, you are most likely focused on developing your business, growing your customer base and providing a quality product at a competitive price. Like many other business owners, paying taxes may be an afterthought. Unfortunately, failing to give the appropriate time and consideration to your tax obligations cannot only result in financial penalties but may even result in criminal prosecution. Hiring an experienced Massachusetts tax attorney is an investment in the current and future success of your business.

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