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News and Events

Category: Offshore Account Update

Why End OVDP? A Former IRS Attorney Provides His Perspective

Posted in News, Offshore Account Update on August 13, 2018

The official end of the IRS’ Offshore Voluntary Disclosure Program may have come as a shock to many with undisclosed bank accounts overseas. Those with undisclosed assets are at risk of IRS prosecution, severe audits, massive penalties and even jail time. If you have undisclosed offshore accounts, it is imperative that you speak with Maryland tax attorney Kevin E. Thorn to discuss your options. As a former IRS attorney, the closure of the OVDP is not very surprising at all. In fact, there are a number of reasons why this closure actually seems to be in the best interest of the IRS. Read More

Managing Partner Kevin E. Thorn - 5 Things You Should Know From the Paul Manafort Trial

Posted in News, Offshore Account Update on August 2, 2018

Managing Partner Kevin E. Thorn was recently asked by a DC news source to comment on former Trump campaign chairman Paul Manafort’s trial taking place in a federal court in Alexandria, Virginia.

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How is Money Laundering Used for Tax Fraud?

Posted in Offshore Account Update on July 30, 2018

Tax fraud takes many different forms, but the main goal of tax fraud is to dishonestly avoid paying the taxes that are due.

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The Decline of Swiss Private Banks

Posted in Offshore Account Update on January 31, 2018

Just a decade ago, the Swiss private banking industry was thriving as people and companies from across the world were able to invest their money discreetly to hide their funds from taxing authorities. However, a lot has changed as the U.S. government and other jurisdictions throughout the world have been aggressively cracking down on tax evasion. Read More

Cornèr Banca SA Reaches Resolution with DOJ Under Swiss Bank Program

Posted in Offshore Account Update on March 16, 2016

On December 10, 2015 Corner Banca SA (Cornèr) reached a resolution with the United States Department of Justice (DOJ) under the Swiss Bank Program.  This resolution, along with the Bank Coop AG (Bank Coop) resolution which was entered into on the same day, brings the total number of financial institutions executing non-prosecution agreements under the Swiss Bank Program to total of 61.

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