09/09/2025
In today's news!
IRS assesses $162 million in penalties over false tax credit claims tied to social media.
This is directly from the IRS, tips on how to spot the scam and what the costs are.
These scams have many traits in common:
*Social media posts that claim everyone qualifies for certain tax credits.
*Promises of “easy” or “fast” refund with minimal or no documentation.
*Instructions to file amended returns, even if you did not originally qualify for the credits.
*Encouragement to ignore IRS letters or respond with false information.
Taxpayers who submit false claims may face serious consequences:
*Delayed refunds.
*Denied refund claims.
*A $5,000 civil penalty under Internal Revenue Code Section 6702 for filing a frivolous return.
*Subject to further IRS examination and enforcement action.
What to do if you are part of a scam-
*Contact a reputable tax professional for advice, you can find credentialed preparers on the IRS website.
*DO NOT ignore any communication from the IRS
*File an amended return
If you are receiving notices from the IRS or State, I can help you with dealing with these. Please contact me at 325-262-5967 or [email protected]
IR-2025-90, Sept. 8, 2025 — The Internal Revenue Service is alerting taxpayers about a growing number of fraudulent tax schemes circulating on social media that promote the misuse of credits such as the Fuel Tax Credit and the Sick and Family Leave Credit.