Posted in News, Offshore Account Update on April 16, 2021
After being slowed by the COVID-19 pandemic in 2020, the Internal Revenue Service’s Criminal Investigation Division (IRS CI) is aggressively targeting taxpayers in 2021. IRS CI announced well over 100 criminal investigations in March, and it is set to surpass this monthly total in April. This far exceeds the monthly totals from the same time period last year. As Maryland tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, IRS CI’s recent enforcement activity highlights some notable trends for U.S. taxpayers residing both domestically and abroad.
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Posted in News, Offshore Account Update on March 31, 2021
What should you do if you discover that you made mistakes on your 2020 tax return? If you are asking this question, you are not alone. Many taxpayers discover past filing mistakes when preparing their returns for the subsequent year; and, with all of the turmoil and challenges of 2020, there are plenty of taxpayers who need to correct filing mistakes in 2021. In this article, Maryland IRS lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, provides an overview of the five primary options for fixing past filing mistakes.
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Posted in News, Offshore Account Update on March 19, 2021
The IRS is cracking down on cryptocurrency-related tax fraud in 2021. Over the past two years, the IRS has delivered thousands of “education letters” to cryptocurrency investors, and the agency has made clear that it will be aggressively targeting investors (“through a variety of efforts, ranging from taxpayer education to audits to criminal investigations”) who underreport and underpay their tax liability in 2021.
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Posted in News on February 26, 2021
Each tax season, the Internal Revenue Service (IRS) publishes a number of important reminders for U.S. taxpayers living domestically and abroad. For the 2021 tax season, the IRS is encouraging taxpayers to ensure that they have all of the documentation they need to file complete returns, and it has provided some tips for taxpayers to avoid other mistakes as well. Here, Maryland tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, provides an overview of some of the key information taxpayers need to know:
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Posted in News on February 12, 2021
Each tax season, the Internal Revenue Service (IRS) warns taxpayers to be careful about their choice of tax preparers. This year, the IRS is focusing in particular on “ghost” preparers or those who complete taxpayers’ returns but don’t sign their names as required by federal law.
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