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.
New withholding lock-in letters are expected to be approved in the near future. Once these letters are updated, the previous letters will be replaced. Employers and employees should know how to treat these lock-in letters.
Gross pay and net pay are two important terms to understand. Which pay is most important to me, and how do I calculate it? With the PaycheckCity net pay calculators, gross pay calculators, and other resources, calculating paychecks is simpler than ever.
The start of the new decade presented many significant changes that impact paychecks. Federal, state, and local tax rates across the country typically change with the coming of the new year. Wage bases also change at the Federal and state level.
PaycheckCity Payroll is an easy and affordable way to do your small business payroll. Sign up for a 7-day free trial today.
