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ITIN Number or Tax ID Number Common Tax Scams

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FTAX Blog Pic ITIN Number or Tax ID Number Common Tax ScamsThe 15th of April is fast approaching and it is time to file you taxes. Are you prepared? Have you gathered out all your documents? If you are a first time filer, make sure you have a valid social security number with you and if you are not eligible for one, you will need an ITIN or Individual Tax Identification Number to file your returns and pay your taxes.

So while you get busy with your taxes and sort things are out, scammers also make efforts in order to get you refund. What are their most common ploys and how do you keep yourself safe? Let us take a look.

Identity Theft

The most popular strategy with every scammer out there is to steal your identity. They will try to get your ITIN – Individual Tax Identification Number or your Social Security number – SSN, whichever is applicable. Once they have access to this, they will use it to claim returns on your behalf.

Phishing

Phishing is the process in which someone sends you an email and claims that they are from the IRS or any federal agency. The IRS will never send you any email, and even if they do, they will definitely not ask you to reveal your financial information. If you get any of these emails, just ignore them because they are probably not IRs. If you are not comfortable with this, you could call up the IRs and find out more.

Tax Preparers

Indeed a tax preparer is a great help with your taxes and helps you get through them, but only so if you choose a reputed name. If this is not so, they are just trying to get your refund. In such a case, they will give you suspicious advice such as deposit the refund amount in an account that does not belong to you and so on. As such, until you are absolutely sure of the credibility of a tax preparation service, do not let them handle your taxes.

Vague Math Calculations

There are many people who cheat on taxes for many reasons, and a lot of these get caught. You sure as hell will not want to be one of them, and get on IRS’s bad side. According to the IRS, there are many people who claim false deductions and make math errors on their returns.  Last year, the IRS investigated nearly a thousand such cases and over 75% of them went to prison, with the average sentences exceeding 3 years.

Anticipation Checks

There are some tax accountants that offer anticipation check as a loan for a certain fee.  If you sign up for this, you can get you can get your refund in a really short time, but you will be paying excessive interest. Accountants may encourage you to sign for this, but there is no need for this. If you really desire a fast refund, just e-file your return much before the deadline, and your refund will be processed quickly.

If you need more information about our Orlando accounting and tax services, please contact us at 407-344-1012.  Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years.  Our Orlando accounting and tax firm has its main offices in Kissimmee, FL.  Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, and Hunters Creek, FL.  Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.


Robert AcevedoITIN Number or Tax ID Number Common Tax Scams

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