The Internal Revenue Service (IRS) recently announced the launch of a new enforcement initiative specifically targeting partnerships and other pass-through entities. As the agency explains in an October 22, 2024 News Release, it has created a new pass-through field operations unit that is “specifically devoted to ensuring compliance of pass-throughs of every size and form—including partnerships, S-corporations and trusts—reflect[ing] the IRS’ broader efforts to focus more attention and resources on an area that has historically been under-scrutinized.” Learn more from Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.

For U.S. taxpayers who are behind on their federal filing or payment obligations, engaging with the IRS proactively is generally the best approach. Typically, this involves making some sort of disclosure to the IRS. But, while IRS disclosures can be beneficial, they can also be very risky. As a result, if you are considering a disclosure, it is important that you consult with an experienced Boston tax attorney before moving forward.

The IRS’ Office of Promoter Investigations is focused on uncovering and prosecuting Employee Retention Credit (ERC) fraud in 2024. According to the IRS, its Office of Promoter Investigations “has received hundreds of referrals from internal and external sources,” and since the COVID-19 pandemic, the IRS has largely blamed promoters for the billions of dollars in fraudulent claims filed under the ERC program. Do you have concerns about facing an ERC-related investigation? If so, keep reading to learn more from Boston IRS attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.