Tax Scam Alert

The IRS releases a list each year to warn taxpayers about common tax scams.The intent of issuing such a list is to protect the public, warn scammers and to help the masses and unsuspecting taxpayers avoid penalties and interest that may result from an illegal scam.

Here is the IRS Dirty Dozen list:

1. Identity Theft

2. Phone Scams

3. Phishing

4. Scammers Promising Free Money from Inflated Funds

5. Return Preparer Fraud

6. Hiding Income Offshore

7. Impersonating a Charity

8. Reporting False Income, Expenses or Exemptions

9. Falsely Claiming Zero Wages or Using a False 1099

10. Frivolous Arguments

11. Abusive Tax Structures

12. Misuse of Trusts


More Updates


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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

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Tapping Into Retirement Accounts If Not Directly Impacted By COVID-19

The recently-­‐enacted Coronavirus Aid, Relief, and  Economic Security Act (CARES  Act) signed by President Trump  on  March  27, 2020, allows  “qualified individuals” to take up  to  $100,000 of  penalty-­‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-­‐related

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