It’s tax season so beware of these pitfalls

CNNMoney recently published a very informative article about certain things that the IRS are looking out for. The article stated that “…the IRS is keeping an eye out for scam artists who steal identities, lie about charitable donations and hide income in offshore accounts, among other abuses.”

The article outlined 12 things that the IRS has identified as scams and ways that some people cheat the system:

1. Identity theft

2. Phishing

3. Sketchy tax preparers

4. Hiding income offshore

5. No such thing as “Free Money”

6. Inflating income and expenses

7. Filing false forms

8. Picking a bone with the IRS

9. Falsely claiming zero wages

10. Exaggerating charitable donations

11. Disguising corporate ownership

12. Misuse of trusts

 

Read the entire article here.