Washington, DC (PRWEB) October 22, 2012
The Internal Revenue Service (IRS) is targeting non-resident foreign artists and athletes in an effort to ensure tax compliance and raise revenue. Foreign artists and athletes who work in the U.S. face a high risk of being audited by the IRS and should take steps to ensure they are properly reporting and paying tax on all income subject to U.S. taxation.
Kevin E. Thorn, Managing Partner of Thorn Law Group, a law firm that represents many foreign individuals with U.S. tax liability, states, “The U.S. government is committed to bringing all foreign athletes and artists into compliance. The IRS has an Issue Management Team devoted exclusively to monitoring and auditing these individuals.” Mr. Thorn continues, “The risks associated with tax non-compliance among foreign artists and athletes are extremely high. In the programs’ first four months, the IRS audited at least 60 golfers and tennis players alone.”
Foreign artists and athletes should consult with an experienced tax attorney to ensure compliance and to receive the most favorable tax treatment available. Immediate action is advised due to the high risk of audit.
For additional information on the news that is the subject of this release, contact Kevin E. Thorn, Managing Partner of Thorn Law Group at 202-270-7273 or visit us at http://www.thorntaxlaw.com/.
About Thorn Law Group, PLLC: Thorn Law Group, PLLC is a law firm dedicated to helping clients resolve complicated tax, criminal tax, and international tax problems.
Kevin E. Thorn
Managing Partner Thorn Law Group, PLLC