Tech

Watch out for tax scams ahead of April deadline

Watch out for tax scams ahead of April deadline

Remember, if a tax avoidance structure sounds too good to be true then it usually is.

If you haven't filed your taxes yet, the time is quickly ticking away with the deadline to file them without penalty falling on Tuesday, April 17.

For those of you who still need to turns yours in, experts with Quality Tax Service share a few last-minute tips. Many will hastily get their QuickBooks file updated, appropriate documents compiled and a meeting with their accountant scheduled to ensure nothing delays getting this important task done. Check your state tax department's website: While some states will automatically apply your federal extension, others require you to submit a separate state extension form.

The IRS says that electronic filing is the best way to avoid common mistakes.

Telephone calls to the IRS may have long wait times. "We got hammered Friday and Saturday", Cauble said. Mark Jaeger, director of tax development at TaxAct, said that some taxpayers are shareholders or partners in a business and are still waiting to receive their Schedule K-1 form.

More news: NJ woman fatally stabs wife, injures husband in apartment attack

If you are unsure how much you owe in taxes, here's some math to figure out what to pay now.

"Before you respond to them, before you give out any sorts of personal information, even things like your name, date of birth, especially social security number, don't give that information out unless you can absolutely verify that you're speaking with someone that's from the IRS", said Shifflett. It remains unknown if crypto investors took their earnings from the rise of digital assets in 2017 to pay this year's taxes, but the market is on an upward climb now. A lot! A tax refund is really just the return of a yearlong, interest-free loan that you extended to Uncle Sam.

That doesn't mean you can put it off for months.

According to the indictment, Davis is the owner and operator of Get Organized Tax & Accounting (GOTA), a tax preparation business in Plainfield. After doing so, you may want to adjust your W-4 at work. For the 2015 tax filing year, the IRS indicated that only 802 people had included cryptocurrency gains or losses in their tax filings.


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