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Category: Tax Fraud

January 17, 2023

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IRS CI Continues Targeting PPP Loan Fraud in 2023

According to data cited in a recent NPR article, as much as $64 billion of the $800 billion in forgivable loans issued under the Paycheck Protection Program (PPP) may have gone to applicants that didn’t deserve it. As the article also notes, the federal government has up to 10 years […]

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IRS

September 20, 2022

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How small issues can create big problems for taxpayers

The U.S. tax code is among this country’s most complicated and dense bodies of law. And every year, individuals must file their tax returns in compliance with these laws. Unsurprisingly, people make mistakes, miscalculations, and missteps that result in inaccurate returns and payments. Even when these issues seem small, they […]

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Tax Evasion

June 29, 2022

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3 common tax fraud mistakes

As Ben Franklin put it, “nothing is certain but death and taxes.” Whether you prepare your own tax filings or go to a professional to do it, most of us are generally honest with the Internal Revenue Service when it comes to paying taxes. However, mistakes can be made – […]

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Tax Crimes

April 8, 2022

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The 3 deadly sins of EITC filings

Tax preparers know that the EITC stands for Earned Income Tax Credit, which for  2021 can range from $1,502 to $6,728. Tax prepares also know that the less you earn and the more children you have, typically, the greater credit you qualify for.  Additionally, most tax preparers are well aware […]

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IRS

January 6, 2022

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Are offshore accounts illegal?

Anyone with significant financial holdings knows that they are not illegal. So, why the bad rap? It is because these very legal, above-board accounts have been misused or used to hide money. Offshore banks have been connected to money laundering, tax evasion, and straw men and shell companies. Famous and […]

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IRS