Another Tax Scam Is Upon Us – Beware of Back Taxes Bullies
No one likes a bully. Bullies can wreck havoc on their victims. From swirlies to stealing lunch money, bullies are a big problem. The same can be said for tax bullies, except they want to steal a lot more than your lunch money. There have been several recent reports from different locations around the country that an old tax scam has resurfaced recently.
Callers, who claim to be with the IRS, are contacting taxpayers and threatening to sue them if they don’t pay their back taxes. Of course, for those who know they don’t owe any back taxes, this call can be simply a nuisance. However, for those who aren’t sure about their tax situation, these calls can be confusing and even quite scary. The callers can appear to be very legitimate and they can leave some of their victims feeling helpless.
The bottom line if you receive a call like this is that it is a scam. The IRS will not call taxpayers and threaten them, no matter how much they might owe in back taxes. They will always first send a letter to inform you of any kind of tax problem or situation. They won’t ask for personal information and they will never threaten to sue you or send you to prison.
If you receive any kind of call like this, don’t be alarmed. Instead, hang up and call the IRS to let them know, as well as your local authorities. The more people that are aware of the scam the fewer the victims the scammers will be able to get.
Obama Looking to Stick the Wealthy With Even More Taxes
His second term in office is winding down, but President Obama would still like to raise taxes on high net worth individuals before he checks out of the White House at the beginning of next year. Although the president has already taken several measures to raise the effective tax rate on the wealthy, he is…
Which Tax Breaks Help High Net Worth Taxpayers the Most?
It’s no secret that the United States government generally taxes high net worth individuals at a much higher clip than those in the lower- and middle-income brackets. However, despite that fact, there are still many provisions in the tax system, if used properly, can help wealthy earners save on their taxes. So what are some…
Tax Preparers Get Busted for Fraudulent Practices
Every tax season is full of stories and tales of people who go to great lengths to avoid paying taxes. In addition there are dozens of reports of unscrupulous tax preparers that get caught trying to cheat the system: either their clients or the IRS, or both. We want to share a few of those…
Entrepreneur Think Deductions, Deductions, Deductions!
Are you an entrepreneur looking for a tax break? Entrepreneurs have a lot on their plate, including living with the financial risk of their entrepreneurial efforts. That’s why it’s so important for any entrepreneur to be aware of any and all deductions come tax time. There are dozens of deductions to be had, but the…