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Top five IRS Tax scams to look out for

September 17, 2014  |   Tax Scams   |   Tags: , ,  

The IRS identifies the common tax scams in their “dirty dozen” list. As expected some go to excessive lengths to put in false information on tax returns, criminal minds don’t sleep it seems, but there are a lot of people which get involved with incorrect and misleading advice from tax preparers or bogus scheme promoters.

 

irs tax fraudHere are the five IRS scams to look out for:

  1. 1. Telephone scam: you could get a call from a random person claiming to be from IRS or the state government. The claim of the person would be that you owe taxes and he can even threaten you to revoke your driver license or other actions if you do not comply. Another caller will confirm the call later by claiming to be from the police department. To get out from this you can easily call the IRS protection line at (800)8291040. You can access FTC website and write a complaint.
  1. 2. The charitable scam: charity is not good for you in the tax world it seems as scam artist will persuade you to move your assets to a supposedly tax exempt organization like a charity but they will remain in control over that income or asset which is not allowed. They also over evaluate one property which is donated to charities.
  1. 3. Identity theft: this has become a common scam where the scam artist gets victim’s social security number and gets a large refund being an early filer. If you have been victimized call (800)908-4490 for IRS identity protection specialized unit.
  1. 4. Phishing: unsolicited email or a fake website poses as a legitimate site to lure in p eople to give in their valuable personal and financial information. Report Tax Fraud sites to Email – phishing@irs.gov.
  1. 5. False Income: people include income on a tax return that was not earned as self-employment income to maximize refundable credits. This is unadvisable as this can result in repaying refunds, including interest and penalty and even prosecution.

People often underestimate the power that the IRS has and think of ways to avoid taxes but It is understood that even if you evade taxes for some time the IRS will track it down and you will face harsh repercussions for it.