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Identity theft related to tax fraud has decreased by an estimated two-thirds since 2015, according to a report from the IRS. Despite the increase in enforcement activities, thousands of taxpayers fall victim to scams every year. Read our last post on 2019 Dirty Dozen Tax Scams. Businesses are not immune to tax fraud or identity … Continued →
Tax fraud happens year-round, but during tax season fraud scams are at an all-time high. With every tax season comes an increase in tax fraud occurrences. Sometimes taxpayers themselves are to blame. Unscrupulous paid tax preparers can also be responsible for inflating deductions and falsifying returns. And of course, fraudsters do their best every tax … Continued →
If you’re used to a big tax refund each spring, don’t make plans for this year’s refund just yet. Millions of Americans who already stated filing their taxes anticipating a refund are getting noticeably less. Some taxpayers even owe money when nothing changed in 2018. What did change in 2018 was tax withholding. And with … Continued →
The U.S. government was partially shut down on December 22, 2017 and was recently reopened last week; a record-breaking length of time. Although most of the damage to the economy will be reversed as federal workers return to their jobs, the CBO estimated $3 billion in economic activity is permanently lost. How will this affect tax … Continued →
For many, summer vacations are a way to relax and unwind and enjoy what is usually sunny, warm weather. Maybe your ideal vacation destination is a beach; perhaps the lake or mountains. Paying for dream destinations can be challenging, though. Have you considered turning your vacation into a tax deduction? It’s possible. Active Versus … Continued →