Tips and resources for your business

Blog

Falsely padding deductions highlighted in IRS 2018 ‘Dirty Dozen’ tax scams

The Internal Revenue Service today warned taxpayers to avoid falsely inflating deductions or expenses on tax returns.

Common areas targeted by unscrupulous tax preparers involve overstating deductions such as charitable contributions, padding business expenses or including credits that they are not entitled to receive – like the Earned Income Tax Credit… Some taxpayers also may be tempted to take these steps in hopes of getting a larger refund or paying less than what is owed.  Preparing an accurate tax return is a taxpayer’s best defense against scams.

Read more here…