News and Events

The Internal Revenue Service (IRS) has launched a new initiative targeting pass-through entities and their owners. Pass-through entities include partnerships, S-corporations, limited liability companies (LLCs) and trusts—which do not pay federal income tax at the entity level but instead “pass through” their tax liability to their owners (subject to certain exceptions). While millions of business owners rely on this pass-through tax treatment to lawfully minimize the amount they owe, the IRS nonetheless views pass-through entities as a potential red flag for fraud. Learn more from Maryland tax attorney Kevin E. Thorn, Managing Partner of US International Tax Advisors. Read More

The Internal Revenue Service (IRS) has reopened the Employee Retention Credit (ERC) Voluntary Disclosure Program through November 22, 2024. As a result, submitting an application under the ERC Voluntary Disclosure Program is currently one of several potential options for business owners who have improperly claimed the ERC. At the same time, however, the IRS has also reaffirmed its commitment to aggressively pursuing enforcement—with improper ERC claims carrying civil or criminal implications depending on the circumstances involved. Learn more from Maryland tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group: Read More

Non-compliance with the Affordable Care Act’s (ACA) health insurance requirements can trigger substantial penalties. The Internal Revenue Service (IRS) is auditing ACA compliance in 2024; and, in doing so, it is scrutinizing employers’ records for evidence of any and all statutory violations. For employers targeted in these IRS penalty audits, an informed and proactive defense is essential. Learn more from US International Tax Advisors:

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If you are facing a criminal tax audit in Maryland (or if your company is facing a criminal tax audit in Maryland), there are some important steps you need to take right away. There are also several costly mistakes you need to avoid. These audits present significant risks; and, if you aren’t careful, you could find yourself facing serious criminal charges unnecessarily.

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While the COVID-19  pandemic may be over, the federal government’s efforts to target pandemic-era fraud have only just begun. The Internal Revenue Service (IRS) and U.S. Department of Justice (DOJ) are prioritizing pandemic-related fraud cases in 2024, and their efforts to prosecute individuals for paycheck protection program (PPP) and employee retention credit (ERC) fraud are likely to continue well into the future. US International Tax Advisors explains what this means for PPP and ERC recipients in the Old Line State.

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