IRS Out With Dirty Dozen
Updated: Jan 15, 2021
Every year, and especially this year - after tax reform - IRS discloses some of the top tax scams. Here are a few of the more prevalent:
A PTIN is a "Preparer Tax Identification Number" and a valid number begins with "P"
You can also verify that a tax preparer is a CPA at www.cpaverify.org
Does "Get the Maximum Refund Allowed by Law" language count? It should.
Yes, you want the maximum refund you can legally obtain but more than anything, you want to file a "complete and accurate" return.
EITC or "Earned Income Tax Credit" is essentially a Welfare Program administered by IRS. Sometimes the more income reported will result in a larger credit.
This is only a partial list, originally published by AccountingToday.