News and Events

The Employee Retention Credit (ERC) was an economic relief program made available to businesses impacted by the COVID-19 pandemic, and until recently, affected businesses could claim the credit retroactively. However, the Internal Revenue Service (IRS) has now placed a moratorium on new ERC claims as it investigates widespread fraud under the program. Virginia federal tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains. Read More

Among several other enforcement priorities, the Internal Revenue Service (IRS) and U.S. Department of Justice (DOJ) have been targeting “abusive trust tax evasion schemes” in 2023. Their focus on these schemes will likely continue into 2024 as well, and as a result, taxpayers and promoters of these schemes must be prepared to defend themselves if necessary. Read More

With federal authorities continuing to investigate COVID-19 pandemic fraud in 2023, businesses that obtained Paycheck Protection Program (PPP) loans or claimed the Employee Retention Credit (ERC) are under the microscope. Authorities including IRS Criminal Investigation (IRS CI) are aggressively targeting businesses (and business owners and executives) in PPP fraud and ERC fraud investigations—and these investigations are leading to criminal indictments in some cases. Read More

Puerto Rico Act 60 allows qualifying individuals and businesses to avoid federal ordinary income and capital gains tax liability. Individuals and businesses must meet the Act’s Puerto Rico residency requirement in order to qualify, and they must only claim federal tax exemptions for qualifying income. Those who improperly claim Puerto Rico Act 60 tax benefits can expect to face scrutiny from the Internal Revenue Service (IRS)—including IRS criminal tax audits in many cases. Read More

The Employee Retention Credit (ERC) was—and is—a pandemic relief program that allows qualifying businesses to claim refundable tax credits for the 2020 and 2021 tax years. Qualifying businesses can retroactively claim the ERC through 2025, and they can receive refunds from the Internal Revenue Service (IRS) if they paid more than necessary during the COVID-19 pandemic.

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