The IRS Repeats Warning about Phone Scams

The IRS has issued another warning to taxpayers regarding phone scams. The Treasury Inspector General for Tax Administration (TIGTA) has identified approximately 1,100 victims who have been scammed out of an estimated $5 million by callers purporting to be from the IRS. The TIGTA has received over 90,000 complaints through its hotline and urges taxpayers to continue to report any suspected fraudulent phone calls. As a reminder, the IRS:

  • NEVER asks for credit card, debit card or prepaid card information over the phone
  • NEVER insists on a particular payment method to pay tax obligations
  • NEVER requests immediate payment over the phone

If you think you’ve received a phone call from the IRS, you should:

  • Call the IRS at 1-800-829-1040 if you believe you do owe taxes
  • Call the […]
By |September 17th, 2014|Categories: Business Tax, Individual Tax, Nonprofit Organizations|Tags: , , |Comments Off on The IRS Repeats Warning about Phone Scams

SEC Issues Warning to Investors to Proceed with Caution When Investing in Bitcoin Related Investments

Bitcoin is a peer-to-peer payment system, which is not considered a real currency, but a virtual currency. This article discusses the risk of fraud and other concerns related to Bitcoin related investments. It also lists out factors that should be considered when evaluating an investment and discusses the signs of a fraudulent investment. Read more at the Journal of Accountancy.

By |June 4th, 2014|Categories: Accounting & Bookkeeping, Business Operations, Business Tax, Individual Tax, Nonprofit Organizations, Retirement Planning|Tags: , , , |Comments Off on SEC Issues Warning to Investors to Proceed with Caution When Investing in Bitcoin Related Investments
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