Advantage Tax Services - Greater Raleigh Area

01/01/2020

01/01/2020

I guarantee that I would.

11/09/2013

The IRS is warning the public about a phone scam that targets people across the nation, including recent immigrants. Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card or wire transfer. The scammers threaten those who refuse to pay with arrest, deportation or loss of a business or driver’s license.

The callers who commit this fraud often:
•Use common names and fake IRS badge numbers.
•Know the last four digits of the victim’s Social Security number.
•Make caller ID appear as if the IRS is calling.
•Send bogus IRS emails to support their scam.
•Call a second time claiming to be the police or DMV, and caller ID again supports their claim.

The truth is the IRS usually first contacts people by mail – not by phone – about unpaid taxes. And the IRS won’t ask for payment using a pre-paid debit card or wire transfer. The agency also won’t ask for a credit card number over the phone.

If you get a call from someone claiming to be with the IRS asking for a payment, here’s what to do:
•If you owe federal taxes, or think you might owe taxes, hang up and call the IRS at 800-829-1040. IRS workers can help you with your payment questions.
•If you don’t owe taxes, call and report the incident to the Treasury Inspector General for Tax Administration at 800-366-4484.
•You can also file a complaint with the Federal Trade Commission at FTC.gov. Add "IRS Telephone Scam" to the comments in your complaint.

Be alert for phone and email scams that use the IRS name. The IRS will never request personal or financial information by email, texting or any social media. You should forward scam emails to [email protected]. Don’t open any attachments or click on any links in those emails.

Read more about tax scams on the genuine IRS website, IRS.gov.

Additional IRS Resources:
•Treasury Inspector General for Tax Administration
•FTC Complaint Assistant
•Report Phishing
•Protect Yourself from the Dirty Dozen Tax Scams

IRS YouTube Video:
•Tax Scams – English | Spanish | ASL

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05/02/2013

Health Savings Accounts. The annual limitation on deductions under § 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,300. For calendar year 2014, the annual limitation on deductions under § 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $6,550.

04/30/2013

Scams steal refunds

Security experts warn that email messages crafted to look like official IRS inquiries, but designed to steal personal information and reroute tax refunds to accounts controlled by organized theft rings, will continue at a high rate through May and June.

“They’ll send email confirming they’ve received your tax return and need more information,” said Limor Kessem, cybercrime and online fraud specialist at RSA’s anti-fraud command center in Tel Aviv, Israel. “That’s an email you should delete immediately.” In short order, tax scammers can find out if a tax return has already been filed, note the refund amount and modify where the refund should be sent. If the opportunity arises, they’ll file a faked return and route the refund into their own hands, said Kessem.

02/22/2013

The IRS has this advice for anyone who receives an email claiming to be from the IRS or directing you to an IRS site:
•Do not reply to the message;
•Do not open any attachments. Attachments may contain malicious code that will infect your computer; and
•Do not click on any links in a suspicious email or phishing website and do not enter confidential information. Visit the IRS website and click on 'Identity Theft' at the bottom of the page for more information.

01/29/2013

The IRS will start excepting tax returns tomorrow Jan 30th!

01/17/2013

WASHINGTON — Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2012, the Internal Revenue Service said today.

IRA owners age 70½ or older have until Thursday, Jan. 31 to make a direct transfer, or alternatively, if they received IRA distributions during December 2012, to contribute, in cash, part or all of the amounts received to an eligible charity.