Washington, DC (PRWEB) August 10, 2009
DC boutique law firm, Thorn Law Group, specializes in assisting clients deal with the IRS regarding their undisclosed accounts at UBS and other foreign banks.
In a very public campaign, the Internal Revenue Service and the United States Department of Justice have been aggressively pursuing taxpayers they believe are hiding income in offshore bank accounts in an effort to avoid paying income tax.
In the most widely publicized of these investigations - the IRS investigation into accounts with Swiss banking giant UBS AG, the U.S. and Swiss governments have announced a settlement deal resolving the issues surrounding the release by UBS AG of the names of account holders to the IRS. The terms of settlement are not yet known, but they are likely to include the handing over of some UBS client data to the IRS. Of course, UBS AG is not the only foreign bank the IRS is investigating.
Thorn Law Group, located at http://www.thorntaxlaw.com, is counseling U.S. taxpayers on how to disclose their foreign accounts so as to, hopefully, avoid prosecution. For most taxpayers, Kevin E. Thorn, Managing Partner of Thorn Law Group advises participation in the IRS offshore account voluntary disclosure initiative. If a taxpayer with a previously unreported offshore account voluntarily comes forward and discloses the account, the IRS may - assuming certain conditions are met - allow the taxpayer to come into compliance for significantly lower civil penalties and no criminal prosecution. For taxpayers who do not qualify for the initiative, or who have other concerns, Thorn Law Group counsels on alternative courses of action.
Thorn Law Group adds a new element to the Washington, DC tax controversy community. The firm represents clients in civil and criminal tax controversies, financial litigation and tax professional ethics investigations. Managing member, Kevin E. Thorn, brings prior government, private law firm and accounting firm experience to the representation of clients before the IRS, Department of Justice and federal courts.
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