Each year, the Internal Revenue Service (IRS) publishes a list of its “Dirty Dozen” tax scams. While the list primarily highlights scams that target taxpayers, it also includes tax scams that top the IRS’ list of enforcement priorities. In 2022, the IRS published its “Dirty Dozen” list in a series of articles, and the last article in the series makes clear that the IRS is prioritizing offshore account and digital asset reporting compliance in 2022. Learn more from New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:

Most New Jersey residents think about taxes once a year—usually a few weeks or months before April 15. But, many taxpayers have an obligation to make quarterly estimated tax payments throughout the year. Taxpayers who fail to make estimated payments as required can face steep penalties, and they can increase their risk of facing a tax audit or investigation. Learn more from New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group.

The Internal Revenue Service (IRS) recently released its 2021 Data Book. As the IRS explains, the Data Book “is published annually . . . and provides data on collecting the revenue, issuing refunds, enforcing the law, assisting the taxpayer, and the budget and workforce.” For taxpayers, the most important aspects of the IRS’ Data Book are its statistics on collections and enforcement. Here are some of the highlights from New Jersey tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group:

It is around this time each year that many individuals learn they have fallen victim to tax scams. From fraudulent tax return preparers to phone and email phishing scams, taxpayers face several risks if they are not careful. If you thought you filed your taxes on time but now find yourself dealing with the Internal Revenue Service (IRS), here are some important facts from New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:

Another tax season has come and gone. But, for many U.S. taxpayers, this does not mean they can breathe a sigh of relief until next year. An estimated seven million U.S. taxpayers fail to file with the Internal Revenue Service (IRS) annually—many of whom owe more than they can afford to pay.