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International Disputes

Maryland Tax Lawyer Working to Settle International Tax Disputes

The Criminal Investigation (CI) Division of the Internal Revenue Service has developed a nationally coordinated program to identify and combat abusive tax schemes.  Many of these schemes involve international disputes and violations of the tax laws by individuals and businesses.  The CI program focuses on investigating and taking action against both the tax scheme promoters who play a significant role in creating, assisting or furthering the tax scheme and the investors who knowingly participate in these types of abusive schemes.

One of the more common tax schemes targeted by the IRS involves the use of undisclosed offshore accounts.  While identifying and combatting the use of hidden foreign bank accounts to evade U.S. tax obligations has been a top priority for the IRS for many years, offshore tax avoidance is still on the IRS’s list of “Dirty Dozen” Tax Scams for 2015. The IRS remains committed to stopping offshore tax evasion in all parts of the world and will continue to devote substantial resources in its efforts to do so.

Offshore tax evasion schemes may involve attempts to hide money and assets in foreign banks, brokerage accounts or nominee entities.  In some cases, individuals and entities may employ foreign trusts, insurance plans, private annuities or other structures in an effort to avoid paying their tax liabilities.  No matter how the offshore evasion scheme is structured or where it is taking place, the IRS is dedicated to hunting down and catching the individuals that hide money in unreported offshore accounts and the financial organizations that assist these individuals in doing so.

Helping to Bring Offshore Account Holders into Tax Compliance

With the IRS committed to increasing audits and investigations of individuals and businesses with offshore bank accounts and foreign sourced income, taxpayers who maintain financial accounts abroad would be wise to consult with an experienced tax law attorney.  While the use of an offshore account can certainly be a legitimate tax strategy, taxpayers with these types of accounts need to be certain that they are complying with U.S. reporting requirements and tax obligations.

The attorneys at Thorn Law Group have more than 80 years of combined experience advising clients in a broad range of international tax disputes and controversies.  We are very familiar with the laws governing offshore accounts and foreign assets.  Our lawyers guide individuals, banks, trusts, and other entities through the complicated procedures involved in managing and disclosing offshore bank accounts.  We also have a thorough understanding of the Offshore Voluntary Disclosure Programs (OVDP) established by the Internal Revenue Service.  The attorneys at our firm are very familiar with OVDP requirements and have helped hundreds of clients across the United States bring their foreign accounts back into legal compliance by voluntarily participating in these IRS tax amnesty initiatives.

Discuss Your Situation with Thorn Law Group

If you are under IRS investigation in connection with your international reporting requirements or tax obligations, contact the Maryland offices of Thorn Law Group today.  An experienced tax law attorney will review your situation and discuss the best options available to defend your international activities. Call Kevin E. Thorn, Managing Partner of the Thorn Law Group, at (240) 235-5096 or email ket@thornlawgroup.com.

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