Offshore Account UpdatePosted on March 17, 2025
Last month we discussed some guidance and warnings that the Internal Revenue Service (IRS) has issued for the 2025 tax season. The IRS recently issued another list of warnings for taxpayers. While this list focuses primarily on scams targeting taxpayers, it also includes some warnings that taxpayers need to keep in mind to avoid submitting false and fraudulent returns. Learn more from Boston tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreOffshore Account UpdatePosted on February 28, 2025
The Internal Revenue Service (IRS) recently published several News Releases that offer guidance and tips for U.S. taxpayers during the 2025 tax season. It has published some important warnings as well. These resources are well worth reading, and taxpayers in Massachusetts should consult with a Boston IRS tax lawyer if they have any questions or concerns.
Read MoreOffshore Account UpdatePosted on February 14, 2025
With tax season underway and the Internal Revenue Service (IRS) accepting returns, Massachusetts taxpayers need to ensure that they are prepared to meet their federal filing and payment obligations by Tax Day, which is April 15, 2025. Among other things, this means avoiding common mistakes that have the potential to trigger not only interest and penalties but also scrutiny from the IRS. Here is an overview of five common mistakes to avoid from Boston tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
Read MoreOffshore Account UpdatePosted on January 31, 2025
The final round of federal estimated tax payments for the 2024 tax year was due on January 15, 2025. So, what if you’re late? Boston IRS tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.
Read MoreOffshore Account UpdatePosted on January 17, 2025
On January 10, 2025, the Internal Revenue Service (IRS) announced that it has issued final regulations identifying certain partnership related-party “basis shifting” transactions as “transactions of interest.” This has significant implications for partnerships and partners that engage in these transactions, and it is a development that will require careful consideration going forward. Learn more from Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.
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