Five Tips the IRS wants YOU to Know
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January 15, 2016
Written by: Kristin Gross, Asset Building Coach at La Casa de Esperanza
According to the IRS website, nearly 4,000 people fall victim each year to tax scams. Last year, over $20 million in financial losses were reported due to scams. With millions of Americans filing their tax returns in the next couple of months, scammers are clamoring to make sure they can get a piece of that financial pie.
Your best defense in making sure you don’t get scammed is to know what five things the real IRS will not do when it comes to tax collection:
- Call and demand immediate payment. If you end up owing after you file, the IRS will not call you without first sending you a bill in the mail.
- Demand you pay the taxes without allowing you to question or appeal the amount you owe.
- Require you pay your taxes a certain way. For example, requiring you pay with a prepaid debit card.
- Ask for credit or debit card numbers over the phone.
- Threaten to bring in police to arrest you for not paying your tax bill.
If you are at all in doubt about anything you hear or mail you receive from the IRS, you can always contact them at 1.800.829.1040.
You may be eligible for free tax preparation services through the IRS!
Local organizations offer free in-person tax preparation by IRS certified volunteers. If your income falls below approximately $54,000, follow this link to find a free tax preparation site near you.
If you usually do your own tax return and your income falls below $62,000, follow this link to prepare your taxes for free online.
Kristin Gross is an Asset Building Coach for the Financial Stability Initiative at La Casa de Esperanza, in Waukesha, Wisconsin. The Financial Stability Initiative is a partnership between La Casa de Esperanza and the United Way of Greater Milwaukee & Waukesha County. Kristin has her Bachelor’s degree in Personal Finance from the University of Wisconsin – Madison. She is a financial coach and educator working with individuals and families on obtaining tools for financial capability by meeting basic needs, building savings and gaining assets. She enjoys sharing her knowledge of personal finances to positively impact the lives of others.