The IRS has once again published its “Dirty Dozen” – an annual list of the top 12 tax scams that taxpayers and businesses should be on the lookout for. Although many of these scams peak during tax season, the IRS warns that taxpayers should be vigilant year-round.
Just browse through the latest true crime documentaries on your preferred streaming network and you’ll
see that people of all ages and income levels are vulnerable to financial scammers. Unfortunately, as we
get older, certain factors put us at greater risk. Social isolation, recent loss of a spouse or close family
member, diminished cognitive abilities, and accumulated wealth can make those over age 60 especially
attractive to fraudsters.
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that’s sometimes difficult to do.
Every year, the IRS publishes a list of the latest, most prevalent tax scams. This list, called the Dirty Dozen, serves as a warning to taxpayers, tax professionals and financial institutions, and the IRS urges everyone to remain vigilant in protecting themselves against these and other tax scams.
It has been one year since the COVID-19 pandemic has flipped everyone’s day-to-day life upside down. We have had to change the way we do many things, including finding new ways of completing tasks that were once done in person. A lot of what we do now is being conducted via the internet and online portals. We hear in the news about data breaches and online hackers, but how can you personally protect your information online? There are a few easy tasks that one can complete to ensure they are doing everything in their power to keep their information secure:
Identity theft has become increasingly common over the last several years, and with more people collecting unemployment benefits than ever before due to the COVID-19 pandemic, we have seen a sharp increase in unemployment benefits fraud among our clients.
The Coronavirus pandemic has changed life as we know it, almost overnight. Amidst unprecedented health and economic concerns, cybersecurity is likely the last thing on most people’s minds. Sadly, malicious attackers are capitalizing on the fear and uncertainty surrounding the pandemic to initiate new scams and cyber-attacks.
Fraud is nothing new. In today’s world, we are used to guarding against phone scams, email hackers, and online credit card and identity theft. But as we enter a new decade, fraud experts are advising against a new danger—abbreviating the date.
In today's world, we hear about cyber security breaches all the time. They impact businesses of all sizes, from corporate giants like Target and Equifax, to small local businesses. Malicious individuals can gain access to a private network through any number of weak points, causing real damage to the business and their clients—damage that is often extremely expensive to repair, and can be irreparable in terms of reputation.
