Category: Scam Alert!
SR Client Question: Are theft losses deductible?
Theft losses are NOT deductible under the current law, which was enacted as part of President Trump's 2017 Tax Cuts and Jobs Act. If a person is scammed out of their retirement savings, they have to pay taxes on the...
Scam Alert: Fraudulent or misleading tax information online
All tax advice is not equal, and all tax advice on the internet and social media is DEFINITELY not equal! We sometimes have clients call to verify information they've learned from a friend on Facebook or an influencer on Instagram,...
ERC withdrawal process initiatied for those who may have been scammed
Internal Revenue Service is allowing small businesses who believe they may have entered the ERC process fraudulently or under incorrect guidance to withdraw without penalty. This new withdrawal option allows certain employers who filed an ERRC claim but have not...
Compliance risk for people and businesses claiming Employee Retention Tax Credit improperly
The Internal Revenue Service today issued a renewed warning urging people to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file. The IRS and tax professionals continue...
SCAM ALERT: Beware a new IRS-themed phishing scam via text
The Internal Revenue Service is warning taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information. So far in 2022, the IRS has identified and reported thousands of fraudulent domains tied to multiple MMS/SMS/text...
SCAM Alert: Coronavirus fraudsters add to the anxiety and misery
From the Association of Certified Fraud Examiners: Disaster fraud has become so common that many U.S. federal agencies were quick to create websites to address coronavirus-related scams, complete with tips and sharable graphics for users to link to on social media. Some...
SR Client Question: How safe are password managers?
Many of our clients use password managers to protect and store their password libraries. With sometimes hundreds of unique log-ins between business and personal accounts, it can become unmanageable to remember each username and password. The convenient password managers built...
New IRS impersonation email scam
The Internal Revenue Service and its Security Summit partners recently warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email. Remember: the IRS does not send unsolicited emails and never emails taxpayers about the...
Beware of fake IRS letters
Many taxpayers are aware that the IRS will never call to demand immediate payment over the phone, or call about taxes owed without first having mailed you a bill. To try and trick taxpayers, some scammers are sending letters, hoping...
10 ways small businesses can avoid fraud
As most of us know, small and mid-sized businesses are more vulnerable to fraud than larger organizations, and the effects can be much more damaging. To keep your business one step ahead, follow these ten tips to avoid business and...