For U.S. taxpayers who are behind on their federal filing or payment obligations, engaging with the IRS proactively is generally the best approach. Typically, this involves making some sort of disclosure to the IRS. But, while IRS disclosures can be beneficial, they can also be very risky. As a result, if you are considering a disclosure, it is important that you consult with an experienced Boston tax attorney before moving forward.Read More

The Internal Revenue Service (IRS) is touting the success of two ongoing initiatives targeting high-income and high-net-worth taxpayers. In a News Release issued earlier this month, the IRS reported that these initiatives have resulted in $1.3 billion in taxes, interest and fees recovered over the year. Learn more from Boston tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More

The IRS’ Office of Promoter Investigations is focused on uncovering and prosecuting Employee Retention Credit (ERC) fraud in 2024. According to the IRS, its Office of Promoter Investigations “has received hundreds of referrals from internal and external sources,” and since the COVID-19 pandemic, the IRS has largely blamed promoters for the billions of dollars in fraudulent claims filed under the ERC program. Do you have concerns about facing an ERC-related investigation? If so, keep reading to learn more from Boston IRS attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.Read More

On August 15, 2024, the Internal Revenue Service (IRS) announced that it is reopening the Employee Retention Credit (ERC) Voluntary Disclosure Program for a limited time. The ERC Voluntary Disclosure Program previously closed in March 2024, with the IRS reportedly receiving more than 2,600 voluntary disclosures involving more than $1.09 billion in improper ERC credits and refunds. As Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, for business owners who are thinking about submitting a voluntary disclosure this time around, there are some important changes to keep in mind.Read More

The IRS has just reopened its Voluntary Disclosure Program (VDP), offering businesses a limited-time opportunity to correct improper Employee Retention Credit (ERC) claims before facing severe consequences. Available until November 22, 2024, the program allows businesses to amend their ERC filings at a 15% discount, helping them avoid future audits, penalties, and interest. The IRS has already initiated over 460 false disclosure investigations, but there’s still time to act. If your company is among those that may have inadvertently claimed the ERC incorrectly, now is the time to act.Read More