For the past few decades, the Internal Revenue Service has published what it calls the “Dirty Dozen”. It’s their annual list of the worst tax scams to be avoided. The following is a few of the items on this year’s list.
1 – Phishing and Smishing
Thieves posing as legitimate financial institutions, or even the IRS, utilize emails and texts to get unsuspecting victims to provide personal financial information. Their ultimate goal is identity theft.
2 – Help With Online IRS Accounts
Similar to the first, these individuals advertise to help set up online IRS accounts. Of course, no help is actually needed. They only want your personal data to steal your identity.
3 – Fuel Tax Credit Scammers
This credit is only available to off-highway businesses and farmers. Some unscrupulous tax preparers are promoting it to everyone.
4 – Fake Charities
This is an annual favorite. Wherever there is human misery, there are fake charities preying on the unsuspecting.
5 – Bad Accountants
This is another annual favorite. Beware any tax professional that offers you the world. The returns they sign will always be audited first.
6 – Offer-In-Compromise Mills
If you’ve seen the late night commercials saying that you can get your IRS debts settled for pennies on the dollar, beware. OIC Mills rarely do anything but charge a monthly retainer for little or no work.
It should be noted that anyone can settle an IRS debt for a lesser sum if it can be proven that you’ll never be able to pay what you owe. But if you have income, and things like cars or houses, this is usually impossible to prove.
Let me leave you with this.
If you’re one of my regular accounting clients and we haven’t yet completed your C Corp, Estate, Trust, or Personal Income Tax Returns that are due by April 18th, 2023, then we have already extended your return. A copy of the extension will be forwarded. This will provide an automatic six month extension for filing the “paper” return.
This extension doesn’t extend the due date of any payment that may or may not be required when the return is filed. If your return was extended and you end up owing money, then you will be forced to pay penalties and interest.
You can avoid these unnecessary fees by making a deposit with the federal and state extensions. Please call our offices today to handle the details.
We’re all going to get through this. Let’s get through it together.
Accounting Solutions Ltd,. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Employee Retention Credits, M&A Due Diligence, Payroll Services, or Accounting and Tax Work, you have but to ask. I’m here and I remain,
Sincerely yours,
Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300
www.SalarySolutions.net
www.AccountingSolutionsLtd.com
Note that the only professional services provided by Accounting Solutions Ltd. are those specified in a written communication from our office detailing the scope of services to be rendered and the terms and conditions applicable to the engagement.