No one ever wants to be the victim of a tax scam, resulting in the loss of money and financial reputation. Earlier this year, we posted about 12 Tax Scams the IRS was aware of before tax season. As your top resource for tax-related news, we want to make consumers aware of the latest tactic from scammers: using caller ID.
No one ever wants to be the victim of a tax scam, resulting in the loss of money and financial reputation. Earlier this year, we posted about 12 Tax Scams the IRS was aware of before tax season. As your top resource for tax-related news, we want to make consumers aware of the latest tactic from scammers: using caller ID.
These new scammers function by showing up on a caller id system as someone who looks credible and like they work for the IRS or another agency, like the Department of Motor Vehicles. They seem legitimate, because they’ve done their homework – they use online resources to get your name, address, and other details about your life. They, they use fake names, titles, and badge numbers to gain your trust. Some even go so far as to provide directions to the nearest bank or business where the victim can obtain “payment”.
In the beginning, these scammers were targeting individuals that seemed most vulnerable, including older Americans, new immigrants, and those who speak English as a second language. Now, these scammers are growing bolder, and targeting everyone. Using fear tactics, including threatening police arrest, deportation, or license revocation, these scammers convince people they are legitimate.
If you feel you have been a victim of an IRS scam, report the incident to the Treasury Inspector General for Tax Administration at 1-800-366-4484.
Since March 11, four Economic Impact Payments have been issued as part of the American Rescue Plan Act of 2021. Learn more about when these payments were issued and who the recipients are.
As a small business owner, it is crucial to know when you can or cannot truncate an employee's Social Security Number to avoid issues, delays, and possible fines.
Recent changes to the Paycheck Protection Program provide more benefits for small business owners, sole proprietors, independent contractors and self-employed individuals. Learn more about the changes beginning on February 24th.
