• Tweet

• Tweet

Good article from our friends at Forbes the other day.

Wanted to make sure our devoted Zingers get a chance to read it.

Recently, the IRS released its annual “Dirty Dozen” list of tax scams that you need to be aware of and you need to avoid – at all costs.

The IRS doesn’t play around with people.

I once had a friend whose parents lost their home because of some problems with income taxes.

So anyway, here is the list of 12 top tax scams you really need to avoid:

1. Identity Theft – This one is downright nasty. Someone steals your identity and then steals from the IRS in your name. The good news – the IRS is on to the scam and working hard to catch such scumbags.
2. Phishing – The IRS does not request personal or financial information by email, so if you get a request like that, it’s not real.
3. Return Preparer Fraud  – Choose a good tax preparer. If someone is telling you something that seems too good to be true – it probably is.
4. Hiding Income Offshore – Hmmm. This one isn’t for guys like me…
5. “Free Money” From IRS & Tax Scams Involving Social Security  – Again, if it seems too good to be true, it probably is.
6. False/Inflated Income and Expenses  – Don’t do this.
7. False Form 1099 Refund Claims – Don’t do this.
8. Frivolous Arguments – Don’t do this.
9. Falsely Claiming Zero Wages – Don’t do this.
10. Abuse of Charitable Organizations and Deductions – Don’t do this.
11. Disguised Corporate Ownership – Hmmm. Not for guys like me.
12. Misuse of Trusts – Hmmm. Not for guys like me.

That’s the list. As always, talk to a professional tax advisor when making any tax decisions.

You’ll be happy you did. After all, you don’t want to lose your house.

Read the full article here.

 Printer Friendly Version