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Tax tips ___________________________ compiled by Oksana Xenos DON'T FALL VICTIM TO A TAX SCAM! Fraudulent tax schemes can range from prom ises of special refunds to illegal ways of “untaxing” yourself. The best way to protect yourself against such scams is to be aware. Below are a few of the more common scams you should know about. No Taxes Withheld From Your Wages! Illegal schemes are being promoted that instruct employers not to withhold federal income tax or employment taxes from wages paid to their employees. These schemes are based on an incorrect interpretation of tax law and have been repeatedly refuted in court. I Don’t Pay Taxes - Why Should You? Con artists may talk about how they don’t file returns or pay taxes and then charge people a sizable fee to share their “se cret.” The real secret that these people don’t reveal to you is that many of them actually do file and pay taxes - they just won’t publicly admit it. Pay the Tax - Get a Prize! The caller says you’ve won a prize and all you have to do is pay the income tax due on the prize. Don’t believe it! If you have really won a prize, you may need to make an estimated tax payment to cover the tax that will be due at the end of the year. But the payment goes to the IRS - not to the caller. Whether you’ve won cash, a car, or a trip, the prize giver generally sends you and the IRS a Form 1099, showing the total prize value that you should report on your tax return. Untax Yourself for $49.94! This one’s as old as snake oil, yet people continue to be taken in. It has appeared on the Internet. The ads may say that paying taxes is “voluntary,” but that is absolutely incorrect. The U. S. courts have consistently rejected this and other similar arguments. Unfortunately, hundreds of people across the country have bought “untax pack ages” before finding out that following the advice con tained in them can result in serious civil or criminal tax penalties. Numerous sellers of these bogus advice packages have been convicted on criminal tax charges. I Can Get You a Big Refund - For a Fee! Refund scheme operators may approach you wanting to “bor row” your Social Security number in order to give you a phony W-2, so it appears that you qualify for a big refund. They may promise to split the refund with you, but the IRS catches most of these false refund claims before they go out. And if one does get out, the taxpayer usually ends up paying back the refund, along with stiff penalties and interest. Put Your Money in a Trust and Never Pay Taxes Again! Promoters of abusive trust schemes may charge $5,000 to $70,000 (!) for “trust packages." The fee enables taxpayers to have trust documents pre pared, utilizing foreign and domestic trustees, as of fered by the promoters, and foreign bank accounts and corporations. Although these schemes give the ap pearance of separation of responsibility and control from the benefits of ownership, these trusts are in fact controlled and directed by the taxpayer. A legitimate trust is a form of ownership that completely separates responsibility and control of assets from all the bene fits of ownership. ”IRS Agent” Comes to Your Home to Collect. First, do not let anyone into your home unless that per son identifies himself to your satisfaction. IRS special agents, auditors, and collection officers all carry pic ture IDs and will normally try to contact you before they visit. If you think the person on your doorstep is an imposter, lock your door and call the police. Social Security Tax Refund Scam. This scheme promises taxpayers a refund of the Social Security taxes paid during their lifetimes. The scam works by the taxpayer paying the promoter a “paperwork fee” of $100 or more, plus a percentage of any refund re ceived, to file a refund claim with the IRS. This hoax fleeces victims for the upfront fee. The law allows no such refund of Social Security taxes. These are just some of the fraudulent tax schemes you may encounter. If you believe you have received a fraudulent letter or solicitation, or to report an IRS imposter, you may call the Treasury Inspector General’s Hotline at 1-800-366-4484. Oksana Xenos is an attorney and tax law specialist with the U. S. Department of Treasury in Washington, DC. Ms. Xenos received her law degree, as well as her MA and BA from Wayne State University. A member-at-large, she serves as parliamentarian of the UNWLA. The infor mation provided here is of a general nature and is not intended to address the specific circumstances of any individual. Видання C оюзу Українок A мерики - перевидано в електронному форматі в 2012 році . A рхів C У A - Ню Йорк , Н . Й . C Ш A.
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