February 10, 2020
The following information is provided by BBB:
The United States' tax season is here, and so are the scammers. Con artists are using the Social Security numbers of unsuspecting Americans to file phony tax returns and steal their refunds. In honor of the Federal Trade Commission’s Tax Identity Theft Awareness Week, be on the lookout for this and other tax season scams.
How the Scam Works
You file your taxes as normal and expect a refund from the IRS. Instead, you get a written IRS notice saying that more than one tax return was filed using your Social Security number.
What happened? Scammers got ahold of your personal information, such as your Social Security number, address, and birth date. They filed your return early and received your refund before you even got around to filing. Tax ID theft is a particularly sneaky con because victims typically don’t realize they’ve been targeted until they try to file their taxes for real.
Scammers steal your tax information in several ways. You may have fallen for a phishing scam at an earlier time, used a corrupt tax preparation service, or had your information exposed in a hack or data breach. Sometimes tax scammers file in the name of a deceased person or steal children’s identities to claim them as dependents.
How to Avoid Tax ID Theft Scams:
For More Information
For more information about tax scams check out our BBB Tip on Tax Scams.
If you are the victim of tax identity theft in the U.S., contact the IRS at 1-800-908-4490. You should also file a complaint with the Federal Trade Commission (FTC) at ftc.gov/complaint or by calling 1-877-FTC-HELP. The FTC also offers a personalized identity theft recovery plan at identitytheft.gov.
Working from home has increased in popularity over the past several years. But today, amidst the COVID-19 crisis, it’s not only popular, but required for many. Moving from a hustle-and-bustle professional workspace to a home office can be a major transition for many. To help you make the move successfully, here are a few tips to reduce distractions while working from home:
Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) yesterday issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest.
We at SBC-CPA would like to take this time to address our concerns and preventative measures associated with the novel Coronavirus 19 (COVID 19). Foremost, our thoughts and prayers are with those around the world who have been affected by this virus.