Hello? Is This Really the IRS, or Just a Scam?

Conceptual,Illustration,Of,Online,Fraud,,Cyber,Crime,,Data,Hacking.,A

No one enjoys getting a call from the IRS, but getting a call from someone who claims to be from the IRS, but who is really just a scammer, is even worse. However, according to the country’s top tax agency, that is exactly the kind of sophisticated and elaborate scam that has been going on lately.

The IRS says that the scam has occurred all over the country and has even taken aim at recent immigrants. According to the IRS, the scammers use fake names and IRS ID numbers. The scammers also apparently already have detailed information about the people they call and they are also able to alter their caller ID number so it appears to be coming from the tax agency.

The con artists then claim that the taxpayer owes money to the IRS and demand prompt payment for the debt. They also threaten jail time, license suspension or even deportation in some cases. The IRS absolutely does not use these kinds of tactics.

According to the IRS website it will never do the following things when it calls:

  • Demand immediate payment. In fact, the IRS won’t even call you about taxes owed until mailing you first.
  • Demand that you pay taxes without letting you question or appeal the amount you reportedly owe.
  • Require you to use a specific payment method, like a prepaid debit card, for your taxes.
  • Ask for debit or credit card numbers over the phone.
  • Threaten to have you arrested by any law-enforcement groups for not paying your debt.

You can learn more about this and other tax-related scams by visiting the IRS consumer alerts page. You can also contact us at GROCO by clicking here.

/GROCO
Posted in ,
The True Value of Your Company May Be Different From What You Think

The True Value of Your Company May Be Different From What You Think

The True Value of Your Company May Be Different From What You Think Approaches to Value Intangible Assets Posted: 3/31/11 I’ve received a lot of inquires asking how to value a company that has yet to generate any revenue, has not reached profitability, and yet, it has a substantial history of expenses. Most are start-up…

To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. Alan Olsen, CPA Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world. Alan L. Olsen, CPA, Wikipedia Bio GROCO.com is a proud sponsor of The American Dreams Show. American-Dreams-Show-Accounting-firm-in-ca-cpa-tax-advisors-groco-alan-olsen The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business. Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind. The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most. They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more.. American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included: Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work… Untitled_Artwork copy 4 MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement: In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges. Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

Does Your Business Need a Buy-Sell Agreement?

Does Your Business Need a Buy-Sell Agreement? What Is Buy-Sell Agreement? Buy-Sell Agreement, also known as a buyout agreement, give the company or other stockholders the option or obligation to purchase the interests of other owners under some specified circumstances called trigger events such as death, departure, or retirement, etc. There are two basic types…

Does Your Company Need a Fairness Opinion?

Does Your Company Need a Fairness Opinion? Although not required by statute or regulation, fairness opinions have become an important component of the board of directors and executives deliberation process as they seek to satisfy their fiduciary duties to shareholders and act with due care in an informed manner. Fairness opinions are prepared for and…

Tax Record Retention Guide

Storing tax records: How long is long enough? Tax Record Retention April 15 has come and gone and another year of tax forms and shoeboxes full of receipts is behind us. But what should be done with those documents after your check or refund request is in the mail? Federal law requires you to maintain…