Tag Archives: fraud
Tax Scams
Thursday, May 6, 2010 // 0 Comments // Tax Law
Some scammers claim that by starting a home-based business, taxpayers can deduct many personal expenses as “business” expenses. Other schemes involve offshore transactions in foreign countries that have financial secrecy laws. As a general rule of thumb, taxpayers should be wary of anything that sounds too good to be true. Even if they are duped, [...]
Read more & Talk about itTax Fraud
Thursday, May 6, 2010 // 0 Comments // Tax Law
Our tax system uses voluntary compliance as its method of assessing taxes, which means that individuals are responsible for filing their own tax returns each year. Happily, most of us are law abiding citizens who diligently file returns by the deadline and pay the correct amount of tax. There remains, though, a small portion of [...]
Read more & Talk about itTax Preparer Fraud
Friday, January 1, 2010 // 0 Comments // Tax Law
Sometimes naïve taxpayers hire fraudulent preparers who exaggerate business and personal expense deductions and credits. When the illegal return is discovered, the IRS holds taxpayers accountable regardless of whether they had knowledge of the preparer’s actions. The taxpayer could face payment of additional taxes and possible criminal prosecution. Therefore, it’s in the best interests of [...]
Read more & Talk about itTax Strategies for Individuals
Friday, January 1, 2010 // 1 Comment // Financial Guides
With proper planning, individuals can utilize strategies to reduce their tax bills. The CPAs of Four Brothers Financial, LLC. are experts at identifying and implementing these strategies for you. Our goal is to help you save money. Tax strategies include: Recordkeeping: We’ll help you develop accurate and efficient recordkeeping. Maximizing Deductions: With full knowledge of [...]
Read more & Talk about itNonfilers
Friday, January 1, 2010 // 0 Comments // Tax Law
Despite the complete constitutionality of taxes, some individuals continue to argue that taxes are illegal. If these individuals fail to file a return, it’s considered tax fraud. Frivolous arguments against taxes do not hold up in court, and nonfilers are not exempt from the law.
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