Identity Thieves Want Your Tax Return
Mar30

Identity Thieves Want Your Tax Return

During tax season, personal information is being passed through the mail and the Internet. ID thieves only need your Social Security number and birthdate to file a phony return.   Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. You may be unaware that this has happened until you efile your return and discover that a return already has been filed...

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IRS Identifies Five Easy Ways to Spot Suspicious Calls
Mar28

IRS Identifies Five Easy Ways to Spot Suspicious Calls

Be wary of  suspicious calls saying they are from the IRS as these callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They may know a lot about you, and they usually alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS identification badge numbers. If you don’t answer, they...

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Get it Right so Don’t Rush Doing Your Taxes.
Mar27

Get it Right so Don’t Rush Doing Your Taxes.

The IRS warns mistakes can be costly and delay any refund you might be due, so take your time. Here are the most common errors for last-minute filers, as compiled from the IRS and tax preparation services and professionals.   Entering wrong Social Security numbers for yourself, spouse or dependent children, misstating address or filing status, checking wrong exemption boxes, and listing incorrect bank routing numbers for direct...

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Are You Owed Money by the IRS?
Mar26

Are You Owed Money by the IRS?

Nearly two million U.S. taxpayers have over 2 billion dollars in unclaimed income tax refunds that they will forfeit if they don’t file within three years of the tax year for which the refund applies. If you think you couldn’t possibly be one of them, think again. The problem often arises because you’re not required to file a return unless you earned over a certain amount. People often make the mistake of thinking...

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Tax Tips on Unemployment Benefits
Mar24

Tax Tips on Unemployment Benefits

Taxpayers who received unemployment benefits need to remember that it may be taxable. Here are some key facts about unemployment: Unemployment is taxable. and include all unemployment compensation as income for the year. Taxpayers should receive a Form 1099-G, Certain Government Payments, by Jan. 31. This form shows the amount received and the amount of any federal income tax withheld. Different types of unemployment compensation...

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