Nevada IRS Lawyer
Assisting Taxpayers in Nevada With Voluntary Disclosure, FBAR and FATCA Matters
Thorn Law Group is comprised of former IRS lawyers with experience resolving complex domestic and foreign tax matters. If you pay taxes in Nevada and have foreign accounts, assets or income, we can help you come into compliance with federal tax regulations to avoid serious financial, civil and criminal penalties. Our firm is available right now to assist you with tax cases involving 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 several others.
Understanding the Offshore Voluntary Disclosure Program
Individuals and businesses who are responsible for paying taxes in Nevada and who also have assets held in offshore accounts must report their account values if the total of these accounts exceeds $10,000 at any point in a calendar year. Failure to do so can result in serious financial, civil and even criminal penalties.
Unfortunately, Foreign Bank Account Reporting (FBAR) regulations are extremely complex. It can be easy for any taxpayer to misunderstand what is required of them when disclosing their offshore account histories, and so, can unwittingly incur IRS penalties.
Fortunately, the Offshore Voluntary Disclosure Program (OVDP) can provide taxpayers with an option for reporting previously undisclosed accounts. The program can significantly lower a taxpayer’s liability in paying back taxes, related fines and risk of criminal prosecution. However, it’s important to consult with an experienced Nevada IRS lawyer who can review your accounts and tax returns and determine if the program is the best option for your particular situation, or advise you on alternative options for reporting your foreign accounts.
Led by Managing Partner Kevin E. Thorn, the tax attorneys at Thorn Law Group have in-depth knowledge of tax protocols and procedures that we employ to reduce your tax liabilities. As former IRS lawyers, we fully understand the complexities involved in reporting offshore accounts accurately and will assist you with the completion of all documents as well as with contesting IRS charges.
Our firm provides superior legal services for both individual taxpayers and business owners regarding:
- 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
Reduce Your Tax Liabilities With the Help of Our Nevada IRS Attorneys
If you fail to disclose your offshore accounts and assets, you may be looking at paying thousands to millions in fees – often exceeding the actual value of your investments. Worse, you may be hit with civil and criminal penalties. We’re here to stop this from happening. To avoid serious IRS fines, contact Managing Partner Kevin E. Thorn today for a consultation.