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This Tax Season Online Identity Crooks Came Out Of The Woodwork
Whenever tax season rolls around, the crooks seem to come out of the woodwork. This tax season was no different. Internal Revenue Service scams were spread around; the most popular one involved an email that appeared to be a legitimate email from the IRS. This email stated that this year, your tax refund can be available on your Visa or Mastercard. To transfer your refund, it directs you to a website that asks for your credit card number, social security number, card verification value numbers, credit card expiration dates, filing status, amount shown on your tax return, and other personal information. In today’s day and age, it is my hope that no one would offer this type of information to an unverified website merely because it looks authentic, but the few people who were duped are surely victims of identity theft and are now feeling the blowback from their fatal mistake.
How To Avoid An Audit By The IRS- Part 1
The IRS, armed with smarter computers and more funding, is planning to boost up its audits of individual taxpayers this tax season. Although if you have high income you are less likely to simply fall below the radar, having a lot of money alone is definitely not the only factor that can trigger an audit. Actually, last year only about 6.4 percent of the country’s 440,000 highest-income tax payers were audited.
How To Avoid An Audit By The Internal Revenue Service Part Two
Another thing that makes the Internal Revenue Service wary is hobby losses. Last year the Internal Revenue Service handed its agents a manual about how to find hobby losses, which is when tax payers underwrite activities they enjoy – like soccer – by labeling them as businesses and claiming a loss on a Schedule C under the guise of self employment. Remember that any Schedule C that lists a loss will be under scrutiny, especially if your new business has something to do with anything enjoyable or fun.
Kooky Arguments Keep IRS On Its Toes
We are well into another tax filing season, and the Internal Revenue Service is practicing one of its yearly rituals. Their duty is to address a vast amount of crazy arguments that people give as a reason why they aren’t obligated to file a tax return.
Laws That Can Help During Tax Season
In today’s economic hardship the changes seem giant. Just last year a number of tax laws were made to bail us out of dire situations. These are a few new tax laws that you should know about.