New Jersey Tax Lawyer
2012 Offshore Business Bank Accounts / IRS Voluntary Disclosures
We can help you with the new 2012 IRS Offshore Amnesty Program!
The IRS introduced a New Amnesty Settlement Initiative for Undisclosed Offshore Business Bank Accounts and Offshore Personal Bank Accounts on January 9, 2012.
The basic terms of the program are:
- A 27.5 percent penalty on the taxpayers' undisclosed offshore accounts with the highest aggregate account balance over an eight-year period.
- Participants must pay back taxes and interest for up to eight years as well as accuracy related and/or delinquency penalties.
- Participants must file all original and amended tax returns and include payments for taxes, interest and accuracy related penalties.
Thorn Law Group is in the process of representing numerous individuals, companies, trusts and other professionals in regard to their voluntary disclosure of previously undisclosed offshore business bank accounts and offshore personal bank accounts.
Come forward while this program is still available!
For help call Kevin E. Thorn, Managing Partner, of Thorn Law Group at (201) 842-7696 or e-mail him at ket@thorntaxlaw.com.
Read MoreWho We Represent
The tax attorneys at the Thorn Law Group represent individual taxpayers, entities and professionals:
- Seeking to make offshore voluntary disclosures of previously unreported income, foreign bank accounts and foreign trusts and businesses;
- Who are under investigation by the IRS Criminal Investigation Division (CI) and the U.S. Department of Justice;
- Who have received Information Document Requests (IDRs) regarding their foreign bank accounts and/or interest in foreign assets;
- Who are currently under audit by the IRS or need help with a tax settlement or Offer in Compromise before IRS Appeals; and
- Who are in the process of filing their Foreign Bank Account Reporting (FBAR) forms or other Information Reporting Forms
Latest Blog Posts
Read Managing Partner Kevin E. Thorn's thoughts on current topics in his blog.
- IRS to Provide More Guidance on Duel Citizens with Undisclosed Offshore Accounts
- U.S. Taxpayers with Undisclosed Offshore Accounts Beware: Swiss Government Authorizes Swiss Banks to Turn-Over Names of Professionals to U.S. Internal Revenue Service
Read More







