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Archive by Year:2025

5 Important Facts to Know if You Failed to Pay Estimated Taxes in 2024

Offshore Account Update

Posted in on January 31, 2025

The due date for the final quarterly installment of estimated tax payments for the 2024 tax year was January 15, 2025. If you are behind on your estimated tax payments, what do you need to know? Find out from Virginia IRS lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.

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The IRS’ New Partnership “Related Party” Transaction Disclosure Requirements: What Partners and Tax Advisors Need to Know

News, Offshore Account Update

Posted in on January 17, 2025

The Internal Revenue Service (IRS) has issued a new set of regulations governing certain partnership “related party” transactions. Under the new regulations, some of these transactions now constitute “transactions of interest,” which means they are subject to federal reporting requirements. Learn more from Virginia tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.

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