Sunday, April 24, 2011

Tax Cheating on the Rise

Another tax season has come and gone, but not without its scams. IRS reports that cheating was up 181% this year. Favorite scams: Deduction for prostitutes; Earned Income Credit fraud; deductions to charities that were never made and taking a tax credit for buying an energy efficient car that wasn't bought.

IRS is upping their automated review of returns using computers to match W-2's and 1099's. So if you didn't include one on your return, you will be getting a letter this summer!

If you didn't file, or do get a love letter, please do not hesitate to contact us. We are here to help.

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