News and Events

The IRS recently announced that it has awarded new contracts to three private-sector collection agencies. According to the IRS, “[b]eginning Thursday, Sept. 23, 2021, taxpayers with unpaid tax bills may be contacted by one of [these] agencies,” regarding collection. As Maryland tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, facing the collection of unpaid federal tax debt is a serious matter, and taxpayers who dispute their tax liability or are unable to pay should not simply ignore these agencies’ efforts to contact them. Read More

The U.S. House of Representatives has proposed a bill that, if passed, will have significant tax consequences for cryptocurrency investors. The bill proposes a “wash sale” rule for cryptocurrency similar to the rule that exists today for stocks, bonds and other securities. Maryland tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains: Read More