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Here at Rowling & Associates, we talk a lot about the importance of year-end planning for taxes. Evaluating your tax situation prior to the end of the year for any tax-smart moves you can make goes a long way in reducing your future tax liability. Year-end...
If you enjoy donating to charities that you support while also receiving tax benefits, a Donor Advised Fund may be a great option for you! In this post, we will explain what exactly a Donor Advised Fund is, and some of the tax benefits for Donor Advised Funds. What Is...
Before the year comes to an end is the best time for planning ahead for taxes. With advanced year-end tax planning there are several moves you can make to reduce your future tax liability. Some of these include maxing out on deductions, and others involve “adjusting”...
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IRS Commissioner John Koskinen stated “We urge people to use caution when viewing emails, receiving telephone calls or getting advice on tax issues because scams can take on many sophisticated forms. Keep your personal information secure by protecting your computers and only giving out your Social Security numbers when absolutely necessary.”
A common form of tax-related identify theft occurs when a scammer uses a stolen Social Security number to file a tax return claiming a fraudulent refund. Although this issue has been on the IRS radar for years, they have not found a way to successfully prevent this from happening. Approximately 2,000 identity thieves have been convicted since 2012. Unfortunately, this represents only a fraction of the perpetrators.
How can you tell when your identity has been stolen for fraudulent purposes? It’s generally discovered when your electronic filing is rejected by the IRS. Identity thieves file returns early. So, when a “second” return is filed by you, the IRS rejects it. At this point, you must file a paper return as well as follow up with the IRS to clear up the matter.
What can you do to avoid tax scams? First, never give out Social Security numbers or personal information to anyone claiming to be the IRS by phone or email. The IRS will never ask for information in this manner. Second, file your tax returns early. This will minimize the chances of a thief filing before you. Third, if you were the victim of identity theft in the past, you should apply for and utilize an ID theft PIN for e-filing. It is another line of defense.
It’s true that nothing is foolproof in preventing tax identity fraud. However, armed with information, you can go a long way toward minimizing the risk.
Here at Rowling & Associates, we talk a lot about the importance of year-end planning for taxes. Evaluating your tax situation prior to the end of the year for any tax-smart moves you can make goes a long way in reducing your future tax liability. Year-end...
If you enjoy donating to charities that you support while also receiving tax benefits, a Donor Advised Fund may be a great option for you! In this post, we will explain what exactly a Donor Advised Fund is, and some of the tax benefits for Donor Advised Funds. What Is...
Before the year comes to an end is the best time for planning ahead for taxes. With advanced year-end tax planning there are several moves you can make to reduce your future tax liability. Some of these include maxing out on deductions, and others involve “adjusting”...
As organizations today implement digitized business models and leverage more and more technological advancements for increased productivity, cybersecurity has become a top concern for individuals and investors alike. Nobody want’s their data leaked, accounts hacked,...
I have seen many types of investors over the years, and most could not be more different from one another. The greatest commonality was they, like all of us, are wired to be emotional investors. The volatility and uncertainty associated with COVID times tends to...
Here at Rowling & Associates, we talk a lot about the importance of year-end planning for taxes. Evaluating your tax situation prior to the end of the year for any tax-smart moves you can make goes a long way in reducing your future tax liability. Year-end...
If you enjoy donating to charities that you support while also receiving tax benefits, a Donor Advised Fund may be a great option for you! In this post, we will explain what exactly a Donor Advised Fund is, and some of the tax benefits for Donor Advised Funds. What Is...
Before the year comes to an end is the best time for planning ahead for taxes. With advanced year-end tax planning there are several moves you can make to reduce your future tax liability. Some of these include maxing out on deductions, and others involve “adjusting”...
As organizations today implement digitized business models and leverage more and more technological advancements for increased productivity, cybersecurity has become a top concern for individuals and investors alike. Nobody want’s their data leaked, accounts hacked,...
RECENT ARTICLES
RELATED ARTICLES
Here at Rowling & Associates, we talk a lot about the importance of year-end planning for taxes. Evaluating your tax situation prior to the end of the year for any tax-smart moves you can make goes a long way in reducing your future tax liability. Year-end...
If you enjoy donating to charities that you support while also receiving tax benefits, a Donor Advised Fund may be a great option for you! In this post, we will explain what exactly a Donor Advised Fund is, and some of the tax benefits for Donor Advised Funds. What Is...
Before the year comes to an end is the best time for planning ahead for taxes. With advanced year-end tax planning there are several moves you can make to reduce your future tax liability. Some of these include maxing out on deductions, and others involve “adjusting”...
