As the world fights through a devastating pandemic, tax scams and schemes have not stopped. In fact, they have grown. No theme is too low for these nefarious designers of deceit. The IRS tracks and releases a list of the most prominent scams each year. Taxpayers and tax professionals should know them well and how to avoid becoming a victim. Pandemic-related scams lead this year’s IRS “Dirty Dozen” list.Read More
Tax Warrior Chronicles
UPDATED APRIL 24, 2020 for mailing dates of checks.
As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Congress provided financial relief for many taxpayers with the introduction of a 2020 tax credit to be advanced to eligible taxpayers as “Recovery Rebates” (also referred to as Economic Impact Payments). These rebates will be issued as cash payments by the IRS and are expected to begin in April 2020. Without missing a beat, scammers jumped on the opportunity to use Recovery Rebates as a cover to steal money and personal information from hard working families for financial gain. Read on for more information about the recovery rebates and how to avoidRead More
The White House and law makers met Wednesday March 11, 2020, to hash out emergency legislation to provide economic relief related to the coronavirus pandemic. There is a planned vote on Thursday March 12, 2020, with hopes that President Trump will sign the legislation into law by Friday March 13, 2020. It is expected that this legislation and related executive orders will include an extension of time to file and pay taxes normally due on or before April 15, 2020, for many taxpayers.Read More