In the most recent scam, identity thieves obtain the personal information of Social Security beneficiaries and use that information to attempt to open a “my Social Security‟ account on SSA’s website. If successful, they then use that account to redirect t
The Dirty Dozen list highlights scams taxpayers can encounter at any point during the year, but which often peak during tax time.
The following is from the IRS: The Internal Revenue Service has issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns. "This tax season, the IRS has stepped up its efforts to protect taxpayers from a wide range of schemes, including moving aggressively to combat identity theft and refund fraud," said IRS Acting Commissioner Steven T. Miller. "The Dirty …
Taxpayers have until midnight Dec. 31 to donate to their favorite non-profits. However, make sure you know who actually gets your money.
Non-profit organizations hold a very unique status in society. Unlike corporations, non-profits can avoid payment of federal income tax–and in most cases state tax — if they organize and operate to promote certain causes, which include "charitable, religious, educational," among others. Now, with only days left in the 2012 tax year, many non-profits will make last minute requests for donations because donors also receive a tax benefit — they can deduct the value of the money or property made to the organization. However, donors unfamiliar with the work of an organization should first conduct a little research to ensure that their money goes to the right place and for the IRS approved use. All non-profits must keep strict records of how …
