Posted in on July 29, 2022
The Internal Revenue Service (IRS) recently released its strategic plan for the next five years. While the IRS’ Strategic Plan FY2022-2026 addresses a variety of topics, of most note to U.S. taxpayers is the IRS’ enhanced focus on enforcement.
Read MorePosted in on July 22, 2022
In 2020, Congress established a new employee retention credit to help businesses that were struggling as a result of the economic impacts of the COVID-19 pandemic. Congress extended the employee retention credit for 2021, but in doing so, it also established new eligibility requirements.
Read MorePosted in on June 30, 2022
Federal law requires all U.S. taxpayers to accurately report their income, employment and other tax liability to the Internal Revenue Service (IRS) annually. Owning offshore assets can trigger additional filing requirements as well. Failing to meet these requirements can have serious consequences, and knowingly failing to meet them can significantly increase the risks involved In this article, Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains what you need to know if you have knowingly failed to meet your obligations to the IRS.
Read MorePosted in on June 16, 2022
