Offshore Account UpdatePosted on January 31, 2025
The final round of federal estimated tax payments for the 2024 tax year was due on January 15, 2025. So, what if you’re late? Boston IRS tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.
Read MoreOffshore Account UpdatePosted on January 17, 2025
On January 10, 2025, the Internal Revenue Service (IRS) announced that it has issued final regulations identifying certain partnership related-party “basis shifting” transactions as “transactions of interest.” This has significant implications for partnerships and partners that engage in these transactions, and it is a development that will require careful consideration going forward. Learn more from Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreIf the Internal Revenue Service (IRS) has raided your home or business in Boston, you need to be very careful about your next steps. IRS raids frequently lead to serious criminal charges—including charges that carry fines and prison time for individual taxpayers and corporate executives. Find out what you need to do to protect yourself from Boston criminal tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreEarlier this year, the Internal Revenue Service (IRS) published a News Release touting its efforts to uncover and prosecute pandemic-era fraud. Since then, it has issued numerous additional News Releases highlighting specific enforcement actions involving the Paycheck Protection Program (PPP) and Employee Retention Credit (ERC). As a result, it is clear that PPP and ERC fraud remain top priorities for the IRS heading into 2025. Learn more from Boston criminal tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreOffshore Account UpdatePosted on November 22, 2024
The Internal Revenue Service (IRS) recently released its Financial Report for the 2024 fiscal year. The 2024 Financial Report highlights the agency’s enforcement efforts over the past year and, in doing so, provides insight into its enforcement priorities heading into 2025. As Boston tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, understanding the IRS’ enforcement priorities can help taxpayers address potential concerns before they trigger federal scrutiny—though taxpayers must be careful not to focus on these priorities exclusively.
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