vas kapavarapu 2007-Oct-05
| Title | Info |
|---|---|
| Protect Yourself from the Tax Scams
Paying your taxes is painful enough. Don't get scammed by con artists trying to get your hard-earned money. We'll tell you how to avoid the most common tax scams out there. |
vas kapavarapu 2007-Oct-05 01:45 CDT |
| Scam-10: Improper charitable deductions
The use of tax-exempt organizations to improperly shield income or assets from taxation remains on the latest tax scam list. In these schemes, a taxpayer moves assets or income to a tax-exempt supporting organization or a donor-advised fund, but maintains control over the assets or income. |
vas kapavarapu 2007-Oct-16 03:43 CDT |
| Scam-11: Form 843 tax abatement | vas kapavarapu 2007-Oct-16 03:44 CDT |
| Scam-12: Frivolous arguments | vas kapavarapu 2007-Oct-16 03:47 CDT |
| Scam-1: Telephone tax refund abuses
Con artists work year-round, but every filing season they get a bump in business as thousand of citizens are easy prey for tax-oriented schemes. To entrap taxpayers, some scammers come up with some patently false tax schemes to wheedle personal information and money from unsuspecting filers who think they are complying with tax laws. |
vas kapavarapu 2007-Oct-16 03:17 CDT |
| Scam-2: Abusive Roth IRAs
Since the filing deadline is also the due date for individual retirement account contributions, it is prime time for scams that incorporate retirement plans. |
vas kapavarapu 2007-Oct-16 03:19 CDT |
| Scam-3: Tax-related identity theft phishing
If you have an e-mail account, you've probably received a message "phishing" for your personal data so that the sender can gain access to your financial accounts, run up charges on your credit cards or apply for loans in your name. |
vas kapavarapu 2007-Oct-16 03:21 CDT |
| Scam-4: Disguised corporate ownership | vas kapavarapu 2007-Oct-16 03:23 CDT |
| Scam-5: Zero wage claims
This scam debuted on the dirty dozen list last year and is still going strong. Its hook: No income means no taxes due. |
vas kapavarapu 2007-Oct-16 03:25 CDT |
| Scam-6: Return preparer fraud
Unethical return preparers make money off of customers by diverting a portion of the taxpayer's refund for their own benefit. The IRS warns that they also tend to charge inflated fees for their services and increase their clientele by advertising guaranteed larger refunds. |
vas kapavarapu 2007-Oct-16 03:32 CDT |
| Scam-7: American Indian employment credit
In this scam, taxpayers reduce their taxable income by citing an American Indian employment or treaty credit. |
vas kapavarapu 2007-Oct-16 03:34 CDT |
| Scam-8: Trust misuse
Trusts are a legitimate and frequently used financial planning tool, where a taxpayer's money is controlled and managed by an independent trustee. |
vas kapavarapu 2007-Oct-16 03:40 CDT |
| Scam-9: Structured entity credits
Promoters of this newly identified scheme set up partnerships to own and sell state conservation easement credits, federal rehabilitation credits and other credits. |
vas kapavarapu 2007-Oct-16 03:42 CDT |