Saturday, June 30, 2018
Friday, June 29, 2018
Thursday, June 28, 2018
Don’t Let Your Clients Get Phished. Educate Them
‘Tis the season for IRS letters – and they send them by the millions. What the IRS doesn’t do is call, text, or email taxpayers demanding payment or financial information. Unfortunately, many taxpayers don’t know that. When faced with threatening and urgent phone calls or emails, taxpayers will do anything to appease the person on the other end. That’s why the IRS has been sending out warning notices.
These If/Then Scenarios from the IRS are important for everyone to know and are a great educational tool to share with your clients.
Here’s what a taxpayer should do if they see a suspicious communication from the IRS:
- Email
If Someone receives an email claiming to be from the IRS that contains a request for personal information…
Then the recipient should:- Not reply.
- Not open any attachments. They can contain malicious code that may infect a computer or mobile phone.
- Not click on any links.
- Forward the email as-is to the IRS at phishing@irs.gov.
- Delete the original email.
- Website
If someone discovers a website that claims to be the IRS but the user suspects it is bogus…
Then they should:- Send an email with the URL of the suspicious site to phishing@irs.gov.
- Include a subject line of “suspicious website.”
- Text Message
If someone receives an unsolicited text message claiming to be from the IRS…
Then the recipient should:- Not reply.
- Not open any attachments.
- Not click on any links.
- Forward the text as-is to the IRS at 202-552-1226. Standard text messaging rates apply.
- If possible, in a separate text, forward the originating number to the agency at 202-552-1226
- Delete the original text.
If someone clicks on a link in a phishing email or text, or on a site they believe is bogus, they can visit the identity protection page for more information on steps to take to protect their information. You should also follow our Scam Round Up blog post. We update it as we learn about new scams.
More great reads
Tax Scams Abound. Tips to Stay Incident Free
The Common Denominator in Most Scams
Would You Take the Bait? Why Phishing Scams Should Concern You
source https://www.theincometaxschool.com/blog/taxpayer-education-phishing/
Monday, June 25, 2018
Sunday, June 24, 2018
Friday, June 22, 2018
Tuesday, June 19, 2018
Monday, June 18, 2018
State Bewilderment to TCJA - Podcast Too!
Many new rules are at play including ones that may result in loss of deductions, such as capping the state and local tax (SALT) deduction to $10,000, but many will get new deductions, such as if they are self-employed or have rental income (the "199A deduction"). And the rates go down for everyone.
We are seeing some states enact workarounds to the SALT cap, including New York and New Jersey. Connecticut just enacted (SB 11) a new tax on partnerships and S corporations with a credit given to the owners - that starts now! (See information from CT Dept. of Revenue.) That's an interesting workaround. The IRS plans to issue regulations on whether these workarounds, including ones to donate money to a state fund to get a federal charitable contribution deduction and a state tax credit, work (Notice 2018-54).
I recently had the opportunity to record a "Simply Tax" podcast with BKD's Damien Martin on this topic - state tax workarounds (6/7/18). Or see link on Apple Podcasts or link on YouTube. You can also find links to over 30 terrific podcasts Damien has produced on various tax topics - many on TCJA provisions.
What do you think? Should states be truly worried?
source http://21stcenturytaxation.blogspot.com/2018/06/state-bewilderment-to-tcja-podcast-too.html