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Archive by Month: October 2021

Should You File an Amended Federal Tax Return?

Articles/News, Hot Topics

Posted in on October 29, 2021

As the end of the year approaches, many taxpayers begin the process of preparing to file next year’s tax returns. When going through this process, some taxpayers will discover that they made mistakes in their previous filings. If you discover that you made mistakes, should you file an amended federal tax return? New Jersey tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains:

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What are the Penalties for Failing to File an FBAR By October 15?

Articles/News, Offshore Account Update

Posted in on October 15, 2021

The deadline for filing an FBAR is October 15. While FBARs are technically due on Tax Day, U.S. taxpayers receive an automatic six-month extension to file without penalties. If you missed the October 15 deadline, what penalties are you facing? New Jersey international tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, explains:

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