Free Consultation|USA Only +1 (866)754 4460|Outside USA +1 (516)822 3100 or +1 (631) 623 5100
InfoTaxSquare.com - Website Logo
  You are here : Home  >   Services  >   Income Tax Filing Across The USA  
TESTIMONIALS
InfoTaxSquare.com - Testimonials  


Five Tax Scams to Avoid this Summer or Tax scams each year or also known as the Dirty Dozen!

Source of information is IRS official site-Five Tax Scams to Avoid this Summer or Tax scams each year or also known as the Dirty Dozen!
 
Existing customers please login to check the status of your order at Infotax Square Login here (0) (0)
 
0/5 stars (0 vote)
Category : > Income Tax Filing Across The USA
Posted On : Fri Jul 23rd,2010

 
Source of information is IRS official site-Five Tax Scams to Avoid this Summer or Tax scams each year or also known as the Dirty Dozen!
 



 The scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. These scams don’t just happen during the tax filing season, they can happen anytime during the year. Here are five scams from the 2010 Dirty Dozen list every taxpayer should be aware of this summer.

   1. Phishing Phishing is a tactic used by scam artists to trick unsuspecting victims into revealing personal or financial information in an electronic communication. Scams can take the form of e-mails, tweets or phony websites and they try to mislead consumers by telling them they are entitled to a tax refund from the IRS and they must reveal personal information to claim it. Regardless of how official this e-mail may look and sound, the IRS never initiates unsolicited e-mail contact with taxpayers about their tax issues. Phishers use the personal information obtained to steal the victim’s identity, access bank accounts, run up credit card charges or apply for loans in the victim’s name. If you receive an e-mail that you suspect is a phishing attempt or directs you to an imitation IRS website, please forward it to the IRS at phishing@irs.gov. You can also visit IRS.gov and enter the keyword phishing for additional information.
   2. Return Preparer Fraud Dishonest tax return preparers can cause trouble for taxpayers who fall victim to their ploys. Such preparers are skimming a portion of their clients’ refunds, charging inflated fees for tax preparation or are attracting new clients by promising refunds that are too good to be true. To increase confidence in the tax system, the IRS is requiring all paid return preparers to register with the IRS, pass competency tests and attend continuing education.
   3. Hiding Income Offshore Taxpayers have tried to avoid or evade U.S. income tax by hiding income in offshore banks and brokerage accounts. IRS agents continue to develop their investigations of these offshore tax avoidance transactions using information gained from more than 14,700 voluntary disclosures received last year. Taxpayers also evade taxes by using offshore debit cards, credit cards, wire transfers, foreign trusts, employee-leasing schemes, private annuities or life insurance plans.
   4. Abuse of Charitable Organizations and Deductions The IRS continues to observe the misuse of tax-exempt organizations. This includes arrangements to improperly shield income or assets from taxation and attempts by donors to maintain control over donated assets. The IRS also continues to investigate various schemes where donations are highly overvalued or the organization receiving the donation promises that the donor can purchase the items back at a later date at a price the donor sets.
   5. Frivolous Arguments Promoters of frivolous schemes encourage people to make unreasonable and outlandish claims to avoid paying the taxes they owe. If a scheme seems too good to be true, it probably is.

These arguments are false and have been thrown out of court.


InfoTaxSquare helps filing Income Taxes in all fifty states. If you need our services please click order now button or for additional information read more. For live assistance can be called at +1 (866)754 4460 or email at support@infotaxsquare.com. 24/7 online help is available!

  


Committed to give our users most updated news!
For instant news please subscribe at www.infotaxsquare.com


Leave Your Comments
Your name :
Email Address : Will not be published
Please enter your email if you want us to send answer to your email. We have a strict policy of not to share your email address with any other party.
Your message :
Insert these letters into the textfield below: (required, case-sensitive): JMeES
Do you want to Subscribe for
InfoTaxSquare Business News Bulletin?
Yes
No
Comments (0)
Load More
No Comments found, Be the first to write comment
 


Copyright © 2010, Infotax Square All Rights Reserved.
InfoTaxSquare.com - Allows Payment Processing With Visa, MasterCard, American Express and Discover
Terms and conditions, features, support, pricing and service options subject to change without notice.