Nebraska IRS Attorney
Resolving Complex Voluntary Disclosure Cases for Taxpayers in Nebraska
The Nebraska IRS attorneys at Thorn Law Group are experienced at resolving complex tax cases, including those pertaining to offshore voluntary disclosure. Turn to our firm for assistance if you have foreign accounts, foreign-held assets, foreign-sourced income or conduct business overseas. We have helped hundreds of taxpayers save millions of dollars and avoid severe civil and criminal penalties; let us do the same for you.
Do You Have Undisclosed Offshore Accounts? You May Be at Risk for Serious IRS Penalties
If you have offshore accounts that have not been disclosed, you are a prime candidate for an audit. Whether you are an individual taxpayer or business owner, foreign accounts are one of the largest IRS audit triggers.
Why? Well, for one, the IRS is cracking down on tax evasion more than ever before and one of the agency’s main focuses is offshore accounts. Foreign account holders that are liable to pay taxes in Nebraska are required to disclose the total of those accounts if they exceed $10,000 at any point during a calendar year. That figure applies to the sum of all foreign-held accounts – not individual accounts. Basically, if you have three foreign accounts and their combined total reaches $10,000 at any point during the year, you must report all accounts. This is one of the many confusing rules associated with Foreign Bank Account Reporting (FBAR).
Failure to report your offshore accounts can lead you to incur serious financial and even criminal penalties. Even if, like many taxpayers, you made an honest mistake in your tax return because you were unaware of the strict disclosure regulations, the IRS may investigate your accounts and even previous tax returns under the assumption that you were trying to avoid paying taxes. If you are a high net worth taxpayer or small business owner with offshore accounts, you are over four times more likely to be audited.
The Benefits of Hiring a Nebraska IRS Attorney
Tax laws are extremely complex, especially those regarding offshore account disclosure. Just one minor mistake can lead you to incur IRS penalties. However, consulting with an experienced Nebraska IRS attorney can ensure your tax documents are filed correctly and on time.
Thorn Law Group is comprised of highly skilled former IRS lawyers who possess unique and invaluable insight into the U.S. government’s tax policies and procedures. Led by Managing Partner Kevin E. Thorn, we aim to resolve intricate tax matters for both individuals and businesses, whether the matter concerns domestic or foreign taxes.
Our firm is available to help you achieve a favorable solution for any of the following:
- 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
Avoid IRS Fines and Charges With the Help of Our Tax Lawyers
If you have undisclosed foreign accounts, the IRS may hit you with heavy fines and even criminal charges. We can help prevent that. Contact Managing Partner Kevin E. Thorn today for a consultation to review your options.