Offshore Account UpdatePosted in on December 31, 2025
Facing an Internal Revenue Service (IRS) audit can present substantial risks. Along with liability for unpaid taxes, targeted businesses, partnerships and individuals can also face liability for interest and penalties. With audit rates increasing heading into 2026, it is critical for at-risk taxpayers to ensure that they are prepared. Learn more from Virginia tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:
Read MoreOffshore Account UpdatePosted in on December 17, 2025
The Internal Revenue Service (IRS) is continuing to prioritize Employee Retention Credit (ERC) fraud enforcement heading into 2026. It is targeting both successful and unsuccessful ERC claimants—including claimants excluded by the One Big, Beautiful Bill (OBBB) in some cases. Learn more from Virginia tax defense attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:
Read MoreOffshore Account UpdatePosted in on November 28, 2025
The Internal Revenue Service (IRS) recently published a news release in which it announced that thousands of taxpayers have filed “inaccurate or frivolous returns” due to falling for social media scams promoting improper use of the Fuel Tax Credit and the Sick and Family Leave Credit. In its news release, the IRS also announced that it has imposed more than $162 million in penalties in these cases. As Virginia tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, even when taxpayers fall victim to social media scams, they are still required to pay the full amount they owe:
Read MoreOffshore Account UpdatePosted in on November 14, 2025
Along with reporting their income to the federal government, many U.S. taxpayers have an obligation to report their offshore accounts as well. Just like underreporting income, failing to report offshore accounts can have serious consequences. Offshore account violations can carry civil or criminal penalties depending on the circumstances involved, and the IRS has aggressively enforced offshore account disclosure compliance in recent years. Learn more from Virginia offshore tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreOffshore Account UpdatePosted in on October 31, 2025
The Internal Revenue Service (IRS) is working with the U.S. Department of Justice (DOJ) to pursue criminal tax cases with increasing frequency. These cases often involve substantial penalties—including large fines and prison time. Who is most at risk, and what can (and should) these taxpayers do to protect themselves? Virginia criminal tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.
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