Despite its mainstream acceptance, cryptocurrency is still closely associated with criminal enterprise. The ability to conduct transactions anonymously has made Bitcoin and other cryptocurrencies attractive to individuals and organizations seeking to keep their activities secret, and this in turn has garnered the attention of federal authorities. As New Jersey criminal tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains, the Internal Revenue Service’s Criminal Investigations Division (IRS CI) in particular has recently focused its efforts on targeting market participants for non-tax-related crimes.
Read MoreOffshore Account UpdatePosted in on December 31, 2021
As 2021 comes to a close, it is time for our annual look back at the top tax stories from the year. Here, New Jersey tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, recaps some of the key issues that will continue to impact taxpayers’ reporting and payment obligations (and audit risks) in 2022:
Read MoreThe Internal Revenue Service (IRS) regularly publishes frequently-asked questions (FAQs) on important topics for individual and corporate U.S. taxpayers. For example, the IRS recently published a series of FAQs on the tax implications associated with Coronavirus State and Local Fiscal Recovery Funds (SLFR Funds). However, while the IRS encourages taxpayers to review its guidance, it also wants taxpayers to know that they cannot rely on its guidance exclusively. New Jersey IRS lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains:
Read MoreOffshore Account UpdatePosted in on November 30, 2021
The Internal Revenue Service’s Criminal Investigation Division (IRS CI) recently released its Annual Report for fiscal year 2021. While the FY 2021 Annual Report discusses IRS CI’s enforcement efforts over the prior year, in doing so it sheds light on the division’s enforcement priorities heading into 2022. New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.
Read MoreWhen do you have the right to hire a New Jersey tax lawyer to deal with the Internal Revenue Service (IRS) on your behalf? The answer is much simpler than most people think. While there are complex and nuanced rules about when defendants in criminal matters have the right to representation, you have the right to representation any time you are dealing with the IRS.
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