MARYLAND TAX LAWYER PROVIDING STRATEGIC SOLUTIONS FOR CHALLENGING TAX LAW MATTERS
Kevin E. Thorn
Call Me Personally240-235-5096
Thorn Law Group is a premier tax law firm providing strategic solutions that resolve complex and challenging tax law matters. Our attorneys counsel individual taxpayers and businesses in Maryland who are dealing with sensitive, high-stakes civil and criminal tax law controversies and disputes. We are devoted to our work and committed to helping our clients find the best available methods to successfully settle their tax law disputes.
At Thorn Law Group our legal professionals represent clients throughout the state of Maryland, across the U.S. and around the globe. The tax attorneys in our office handle a full range of business, criminal and international tax law controversies and disputes. We represent individual taxpayers and businesses in both routine and complex tax matters before the Internal Revenue Service, the U.S. Department of Justice, federal and state courts, state taxing authorities, the IRS Whistleblower Office and professional responsibility tribunals.
The legal professionals in our office offer trusted advice and aggressive legal representation to a diverse client base, including individual tax payers, high-net-worth individuals, small and mid-sized companies, banks and financial institutions, partnerships and other entities in the Maryland region dealing with serious national and international tax disputes. While we focus on resolving tax controversies quickly and without the need for litigation, when an appropriate resolution cannot be achieved, we represent our clients’ interests at all stages of the litigation process.
REPRESENTING CLIENTS IN MARYLAND, ACROSS THE U.S. AND AROUND THE GLOBE
2016 IRS OFFSHORE TAX AMNESTY PROGRAM
The attorneys at Thorn Law Group have helped hundreds of individual taxpayers and businesses with undisclosed offshore financial accounts come back into tax compliance under the 2009, 2011 and 2012 IRS offshore tax amnesty programs. In 2014, the IRS announced significant revisions to its third generation program, the 2012 Offshore Voluntary Disclosure Program (OVDP). According to the IRS, the 2014 modifications are designed to encourage more taxpayers to come forward and report their previously undisclosed foreign bank accounts and assets.
The announced 2014 modifications expand the streamlined filing process to permit certain taxpayers living in the U.S. and additional taxpayers residing abroad to participate in the IRS offshore tax amnesty program. Changes to the streamlined filing program remove the previous cap on unpaid tax liabilities, eliminate the risk questionnaire, and include a new requirement that all applicants must provide certification attesting that their actions were not willful in nature.
In addition to modifying the terms and conditions of the streamlined program, the 2014 OVDP sets forth substantial changes impacting taxpayers who may have acted willfully to shield their foreign bank accounts and assets from the IRS. Willful violators will now have to pay their offshore penalty when they submit their OVDP application and they will have to provide more information, including all account statements, to the IRS. Should it become public that the IRS or the DOJ has initiated an investigation of the financial institution where the taxpayer’s accounts were held before the taxpayer submits an IRS pre-clearance request, the taxpayer will face increased penalties.
If you have unreported foreign financial accounts or have questions about IRS offshore reporting requirements, a tax lawyer in our Maryland office can help. Our legal team will carefully review your situation and identify the best path to bring your offshore accounts and assets into complete compliance with U.S. laws and regulations.
CONTACT OUR EXPERIENCED TAX LAW TEAM
The attorneys at Thorn Law Group have over thirty years of collective experience representing clients dealing with sophisticated and sensitive tax law problems. Led by founding tax attorney Kevin E. Thorn, the firm is recognized as one of the leading national and international law tax law firms in the DC-Maryland region. Prior to joining our tax law practice, many of our lawyers served as legal clerks for the United States Tax Court and worked for the IRS as trial attorneys. This insight into the government’s processes and procedures, combined with the professional relationships we have developed throughout the U.S tax litigation system, positions our firm to effectively and efficiently resolve the most difficult and complex tax law issues.
If you have questions concerning a civil or criminal tax law matter, including the IRS offshore voluntary disclosure program, we encourage you to schedule a legal consultation with a tax lawyer at our firm. You can reach our Maryland satellite office by calling 240-235-5096 or emailing Kevin E. Thorn, Managing Partner of the Thorn Law Group, at firstname.lastname@example.org.