Stay safe this tax season, avoid IRS scams

Spending tax refunds, many have few options

One of the most common calls we got to our 12 News Defenders phone bank Monday night was about IRS scams, and people calling to say you owe taxes immediately and you must pay up or be arrested. Or, for electronically-filed returns, they will prepare it but won't digitally sign it as the paid preparer.

"The name on your tax return should match exactly what is on your Social Security card", he said.

Students receiving scholarship money in addition to financial aid and students paying student loans may face a more complex tax process than others. They're sensitive to what tax implications they're facing and may be more open to solutions like annuities that can help save them from feeling the pain next tax season.

Simply buying digital coins and holding onto them shouldn't trigger a tax bill.

Mailed in returns can get lost or stolen, but by e-filing you'll have quick confirmation that your return has been received by the Internal Revenue Service (IRS).

In September 2017, IRS CIO Gina Garza told appropriators that replacing the Individual Master File and finishing CADE2 would take another five years, 50 to 60 additional employees and $85 million a year.

The affidavit of the IRS petition revealed some telling figures on crypto tax disclosures.

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The Journal's March 30 report said the number of taxpayers reporting annual income in excess of $1 million rose almost 25 percent between 2015 and 2017.

Ivens said people who receive a call they think could be a scam should hang up and block the number. It can also be hard for student employees to prove such earnings.

Medford Police are warning the public about scam phone calls from someone claiming to be an IRS agent. The new code will hit taxpayers a fresh set of complex requirements, making next year potentially "the biggest test yet of the IRS' communication approach", researchers said. For this filing season, many investors who have been trading for years will "come out of the woodwork" and disclose crypto on their returns for the first time, according to Jeffrey Kahn, a tax lawyer in Irvine who works with digital-currency holders. "Even though these dependents may, let's say, have an income up to $23,000, you could still claim certain credits for them (through) the caregiver amount, while in previous years you weren't able to do so". Only a tiny fraction said they would take a family vacation.

"You could pay however you want", Welch said.

There are other benefits to filing returns online, Devine said.

Though the refund amounts vary per individual, the average refund left on the table by IN residents is approximately $1,073.

"You'll get a receipt right away if you do it online", Martin said.

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