A powerful scam whose targets were exclusively businesses is now being used against nonprofit organizations and others, according to Connecticut Better Business Bureau. The Internal Revenue Service (IRS), says the “W-2” scam is carried out by criminals who disguise an email to make it look like it came from a business executive. The IRS says…
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WASHINGTON — The Internal Revenue Service today continued issuing its annual list of common tax scams by warning taxpayers to avoid schemes to erroneously claim tax credits. This year’s “Dirty Dozen” includes falsifying income to claim tax credits. “Taxpayers should ensure all the information they provide on their tax return is accurate,” said IRS Commissioner…
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The panicked emails and phone calls began streaming in from community members at about 11 a.m. Thursday morning, inundating Los Angeles immigration lawyers with far more cases than usual. Immigrant advocate groups claim that more than 100 people had been taken into custody by federal immigration officials in Southern California Thursday, indicating a “coordinated sweep” in arrests and heightening fears…
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More than 5,400 Americans overseas renounced their United States citizenship last year, a 26% increase over 2015 and more than triple the number in 2010, when Congress passed a law that significantly increased tax penalties for unreported foreign transactions and holdings, according to data compiled by a Connecticut tax attorney. Advocates for the estimated 7 million overseas Americans…
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There’s plenty of paperwork to keep track of during tax season. Do you have your W-2? How about a 1099 for the other job you have? Or receipts from the medical expenses you incurred in 2016? You think you’ve got enough to worry about? Think again. The Internal Revenue Service says don’t forget about…
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The Internal Revenue Service and state tax authorities are seeing a sharp decline in tax filings during the first weeks of tax season. The slowdown may be due to delays in processing the Earned Income Tax Credit and the Additional Child Tax Credit, fears of extra scrutiny of tax returns of undocumented immigrants by the…
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WASHINGTON — The Internal Revenue Service today warned that taxpayers should watch for improper claims for business credits, which is on the “Dirty Dozen” list of tax scams for the 2017 filing season. Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter any time but many of these schemes…
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Labor and immigration rights advocates are worried that the policies being rolled out by President Donald Trump will make life particularly difficult—perhaps even dangerous—for an especially vulnerable worker population: immigrant day laborers. Trump wants to target “anybody that has any kind of ticket or infraction…That’s the danger” for day laborers. In the executive order he…
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February 9, 2017 Congratulations! You made it through another year. What better way to start 2017 than with 17 great money-saving tax deductions? Use them to save money on your 2016 taxes if applicable, and keep them in mind to save on next year’s taxes as well. 1. Charitable Donations: Donations to a qualified charitable…
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If you are hiding income from the taxman–or just worried you might not be able to substantiate every deduction–are you at risk for three years, six years, or more? Taxes are horribly complex, and even innocent activities can be misinterpreted. That’s one of many reasons it pays to know how far back you can be audited. Start with the…
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