Tax Fraud Getting More Advanced – Are You Prepared?

It used to be that tax fraud was fairly cut and dry. Essentially, it involved an individual or company who, for various reasons, tried to purposely fudge on their taxes, either by understating their income or by trying to completely skip out on filing a return. Those practices certainly still exists, despite the IRS’s constant efforts combat them. However, tax fraud as evolved, like everything else involving taxes. What used to be a matter of defrauding the IRS out of money has now turned into a high stakes ploy to cheat the taxman as well as the taxpayer.
Meet the new tax fraud. Now, scammers are not only out to steal money from the IRS, but they are also using other taxpayers to do it. Thus, they are cheating the IRS and they might be cheating you. Scammers use all kinds of tactics to trick people out of their tax refunds, or even worse, steal their identity along with their refunds and any other assets they can get their hands on.
These days, out of all the common tax scams that take place every tax season, a third of them involve some kind of identify theft. As early as 2011 the IRS only warned of one such scam of this type. Times have changed and so have scammers. It got so bad this year that the IRS reportedly received about 12,000 complaints every week regarding a phone scam in which a scammer tried to obtain the recipient’s personal information by posing as an employee of the IRS.
The battle will certainly continue as technology advances and scammers come up with new schemes as a rapid pace. In order to avoid these kinds of scams you can always contact the IRS, as well as a trusted accounting and tax planning firm, like GROCO. We can help you prepare for and avoid getting scammed. Give us a call at 1-877-CPA-2206 or click here to contact us online.
How to Keep the Wealthy From Fleeing Connecticut
When it comes to saving on taxes the wealthy have to continually consider all their options because lawmakers never seem to stop pushing for more legislation aimed at making the wealthy pay more taxes. Lately, it seems that there are more and more reports of the nation’s wealthiest individuals living in high-tax locations deciding…
Finding Value Investments in Private Equity
Finding Value Investments in Private Equity Private investors and venture capitalists are always looking for the next great company, idea or product to put their money into, in order to reap great financial rewards down the road. However, how do private investors know where to find the true value investments that exist? Experienced Investor Jonathan…
Keys to Empowering Others
A common characteristic of many good leaders is the ability to delegate responsibility. One way that this can be done is by empowering others with the ability to also lead. Empowering someone else can be an excellent tool to achieve even greater success, both for the company and the individual. So how do you…
Top Tax Tips for Business Owners
Chances are if you run your own business then you are always looking for ways to get, and stay ahead, especially when it comes to paying your taxes. They are so many different things to track and organize when it comes to business taxes, but keeping a few simple tips in mind can make…