Husband and Wife with over 35 Bank Accounts Received Minimal FBAR Penalty for their IRS Voluntary Disclosure through the Counsel of Kevin E. Thorn
Kevin E. Thorn, Managing Partner of Thorn Law Group, successfully defended a couple with over 35 undisclosed foreign accounts in front of the IRS and IRS Appeals. The couple had undisclosed offshore accounts and assets located throughout the Middle East, Africa and Europe, in countries including Bahrain, Liberia, France, Iran, and the United Kingdom. The couple also had several overseas companies. Initially, the United States Government declared the couple’s voluntary disclosure as willful and that the resultant penalty should be upwards of $1.8 million. Mr. Thorn effectively argued on behalf of these clients and the couple was subsequently declared non-willful, reducing their penalty to just $600,000.
