3 Tips to Avoid Tax Fraud

Wednesday, June 7, 2017, 6:00 AM | Leave Comment

The government has noted that tax fraud contributes to $64 billion dollars in lost revenue annually.

They are taking a tougher stance on tax fraud and more people are being audited or held liable in federal court than ever before.

While it is possible to get help if you have been a victim of tax fraud, it is easier to prevent tax fraud than it is to deal with the consequences.

avoid tax fraud

  • Look Out for Scams

    Many tax specialist strive to be honest, but there are a few that will file a fraudulent return on an unsuspecting tax preparer having tremendous consequences later.

    Corporations that prepare taxes commit more fraud than individuals.

    To avoid a potential scam because of an unscrupulous tax specialist, always ensure that you’re dealing with a tax specialist that has a good standing with the Better Business Bureau.

    Talk to other customers who have used the company you are considering to see what their experience was.

  • Choose a Good Tax Preparer

    There are more websites popping up than ever before for individuals to file their taxes when and where they want.

    However, not all of the sites are reliably legitimate or trustworthy. Unfortunately, a lot of those sites look real, but not all of them will be accredited to prepare taxes.

    You can easily avoid a tax scam by filing your taxes with a website that is accredited or approved by the IRS. The IRS provides links to several secure and legitimate tax preparation websites.

  • Protect Your Identity

    Protecting your identity can be a key component in avoiding a tax scam that can cause audits and can take years for you to recover.

    A tax scam can occur from you simply giving the wrong information out over the phone containing your date of birth and social security number.

    It may sound cliché, but always be cautious about who you share your personal information with at any time.

    Do not give out sensitive information over the phone unless you initiated the call and you know who you are on the phone with.

Overall, many people never become a victim of tax fraud, but you should always be mindful of ways to avoid a tax scam. If you’re found guilty of tax fraud it is important that you find a good lawyer who specializes in white collar crimes who can provide the legal help you need.

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