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Illinois IRS Attorney

Helping Taxpayers in Illinois Resolve Their Tax Liabilities and Avoid IRS Penalties

At Thorn Law Group, we pride ourselves on helping clients attain favorable solutions for even the most complex of tax-related matters. Our Illinois tax attorneys understand that disclosing foreign accounts is not an easy endeavor and will see you through the process, every step of the way. We have already helped hundreds of tax payers save millions in IRS fines and reduced their tax liabilities. Let us do the same for you.

The IRS Is Increasing Investigations on Offshore Account Holders – Will You Be Next?

The IRS has increased investigations into offshore accounts and account holders in an effort to reduce tax evasion. Illinois taxpayers who have ownership of or signature authority over foreign accounts have an obligation to disclose them if the aggregate total of their accounts surpasses $10,000 at any point during a calendar year. This threshold applies to the combined total of all accounts, not to each account’s individual peak – a guideline that many taxpayers often misunderstand.

Failing to disclose offshore accounts can cause taxpayers to sustain costly penalties, like having to pay expensive fines, or worse, imprisonment. However, with the help of an experienced Illinois IRS attorney, you can reduce or even eliminate your chances of suffering legal and financial tax-related consequences.

Assisting Clients With an Array of Complex Tax Matters

Managing Partner Kevin E. Thorn and the skilled attorneys at Thorn Law Group assist taxpayers with both complex domestic and international tax matters. Whether you are interested in the Offshore Voluntary Disclosure Program (OVDP) or would like to explore other options for reporting your foreign accounts, our firm will review every possible avenue to ensure you come into compliance with Foreign Bank Account Reporting (FBAR) regulations quickly and successfully.

Our firm assists taxpayers with several complex tax matters, from helping them file Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts, a.k.a. the FBAR) to contesting IRS allegations of tax evasion. We take the time to review your offshore account details, previous tax returns and all other relevant documents to ensure your information is accurate and your IRS liabilities reduced or fully eliminated.

Contact an Illinois IRS attorney at Thorn Law Group today for assistance with any of the following areas:

Consult With an Illinois IRS Attorney Today to Discuss Your Voluntary Disclosure Options

Were you aware of the fact that taxpayers are required to report foreign financial accounts by filing an FBAR, regardless of whether they have a personal interest in or only signature authority over the accounts? Many taxpayers are not aware of the intricate details surrounding offshore account reporting laws, which can lead not only to involuntary mistakes, but to costly fines and possibly even criminal tax charges. Fortunately, Thorn Law Group is dedicated to preventing this outcome for our clients. To learn more about your options for voluntary disclosure and foreign account reporting in general, contact Managing Partner Kevin E. Thorn today to schedule a confidential consultation.

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