California IRS Lawyer
Former IRS Lawyers Committed to Helping California Taxpayers With Foreign Account Disclosure
The experienced IRS lawyers at Thorn Law Group employ a solution-driven approach to handling foreign account disclosure cases for clients across California. We are committed to protecting taxpayer rights and helping offshore account holders avoid severe IRS penalties. Turn to Thorn Law Group for assistance with complex tax cases, including matters pertaining to Foreign Bank Account Reporting (FBAR), the Foreign Account Tax Compliance Act (FATCA), the Offshore Voluntary Disclosure Program (OVDP), IRS and DOJ criminal investigations, voluntary disclosure and more.
What Every Taxpayer in California Should Know About Foreign Bank Account Reporting
Do you file taxes in California? Are you the owner or have signature authority over a foreign account? If so, it is vital that you disclose your account information or risk incurring serious and life-changing IRS penalties.
Offshore account holders are required to disclose their foreign-held assets If the aggregate total of their accounts exceeds $10,000 at any point in a calendar year. Failure to do so can lead the IRS to impose expensive fines and even hit you with criminal charges, such as tax fraud or tax evasion.
Thousands of taxpayers have inadvertently failed to disclose their offshore accounts because they misunderstood reporting requirements. Fortunately, there are several options for foreign account holders that can drastically reduce their tax liabilities, one of which is the Offshore Voluntary Disclosure Program (OVDP). However, there are several options for taxpayers with offshore accounts to disclose that will allow them to come into compliance with foreign account reporting requirements.
How Thorn Law Group Can Help You Come Into Compliance With FBAR Regulations
At Thorn Law Group, our experienced team of IRS attorneys understands that coming into compliance with offshore account reporting laws is not as easy as filling out a simple form. Both the laws and the documents involved in disclosing foreign-held assets are complex and overwhelming. Any taxpayer can make an honest mistake, which can lead to serious IRS penalties. Our firm aims to prevent this from happening. We take the guesswork out of Foreign Bank Account Reporting (FBAR) tasks by handling every state of the process for our clients.
Managing Partner Kevin E. Thorn served as an attorney for the IRS and the United States Tax Court for several years. During this time, he gained invaluable insight into the practices and policies surrounding both domestic and international tax law, which he now uses to his clients’ advantage. Whether you need help disclosing new offshore accounts or amending a previous FBAR you filed, our California IRS lawyers will do everything in our power to reduce or fully eliminate your IRS liabilities.
Our firm offers skilled legal counsel for a range of complex foreign account tax matters, including but not limited to:
- Foreign Account Tax Compliance Act (FATCA)
- Foreign Bank Account Reporting (FBAR)
- International Tax Controversies and Disputes
- IRS and DOJ Investigations and Litigation
- Offshore Voluntary Disclosure
- Undisclosed Foreign Accounts
Schedule a Consultation With a California IRS Lawyer Today
Thorn Law Group is dedicated to protecting foreign account holders’ rights. Contact Managing Partner Kevin E. Thorn today to schedule a consultation and discuss the best options for your unique circumstances.