Golden, Gormly & Company, Ltd.

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03/03/2021

The Rhode Island Division of Taxation has posted a special edition of its newsletter, focusing on the filing season. Topics include the following:
 Health insurance mandate
 Increase in property-tax relief credit
 Stimulus payments and Form RI-1040H
 Free File program
 Tax treatment of unemployment benefits
 Tax treatment of stimulus payments
 Tax break on income from Social Security
 Tax break on income from pensions, 401(k) plans
 Entity-level tax on pass-throughs
 March 15 filing deadline
 April 15 filing deadline
 Earned income credit
 Filing tips for e-filers
 Filing tips for paper-filers

To view or download the newsletter, please use the following link:

Item for Monday, February 22, 2021IRS Notices Possibly Sent in Error:  Earlier this month, the IRS issued notices to app...
02/23/2021

Item for Monday, February 22, 2021
IRS Notices Possibly Sent in Error: Earlier this month, the IRS issued notices to approximately 260,000 taxpayers stating they haven't filed their 2019 federal tax return. These notices, referred to as CP59 notices , are issued yearly to identified taxpayers who have failed to file tax returns due the prior calendar year. Due to pandemic-related shutdowns, the IRS has not completed processing all 2019 returns at this time. Therefore, the CP59 notices should not have been sent because some portion of the recipients may have filed a return that is still being processed. Taxpayers who filed their 2019 returns, but nevertheless received the CP59 notice, can disregard the letter and do not need to take any action. There is no need to call or respond to the CP59 notice because the IRS continues to process 2019 tax returns as quickly as possible. See www.irs.gov/individuals/understanding-your-cp59-notice for more information on CP59 notices.

If you received an IRS CP59 Notice, the IRS has no record of you filing your prior personal tax return(s).

Rhode Island Department of Revenue                                           Division of Taxation    Beware of scams and...
12/01/2020

Rhode Island Department of Revenue Division of Taxation

Beware of scams and identity theft schemes, Security Summit says Criminals try to take advantage amid holiday shopping and upcoming filing season

PROVIDENCE — The Rhode Island Division of Taxation, the Internal Revenue Service, and other partners in the Security Summit today warned taxpayers and tax professionals to beware of scams and identity theft schemes by criminals who seek to take advantage of holiday shopping, the approaching tax season, and coronavirus (COVID-19) concerns.

The IRS, state tax agencies, and the tax industry today opened National Tax Security Awareness Week to coincide with Cyber Monday, the traditional start of the online holiday shopping season. But the holiday shopping season, combined with the upcoming tax season, and an increased trend toward working remotely, make online security an absolute necessity.

“This is generally the hunting season for online thieves, but this year there’s a dangerous combination of factors at play that should make people more alert,” said IRS Commissioner Chuck Rettig.

“The combination of online holiday shopping, the approaching filing season, and more of us working remotely, puts people more at risk. People can help avoid becoming victims of scams or identity thefts by taking a few simple steps to help protect sensitive tax and financial information,” said Rhode Island Tax Administrator Neena Savage.

Basic steps

Following are a few basic steps everyone should remember during the holidays and as the 2021 tax season approaches:
▪ Don’t forget to use security software for computers and mobile phones – and keep it updated. ▪ Make sure purchased anti-virus software has a feature to stop malware, and make sure there is a firewall that can prevent intrusions.
▪ Phishing scams – like imposter emails, calls, and texts -- are the top way thieves steal personal data. Don’t open links or attachments on suspicious emails. This year, fraud scams related to COVID-19 and the “economic impact payments” (sometimes called “stimulus payments”, “COVID-19 payments”, or “recovery rebates”) are common.
▪ Use strong and unique passwords for online accounts. Use a phrase or series of words that can be easily remembered – or use a password manager.
▪ Use multi-factor authentication whenever possible. Many email providers and social media sites offer this feature. It helps prevents thieves from easily hacking accounts.
▪ Shop at sites where the web address begins with “https” – the “s” is for secure communications over the computer network. Also, look for the “padlock” icon in the browser window.

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▪ Don’t shop on unsecured public Wi-Fi in places, such as a mall. Remember, thieves can eavesdrop.
▪ At home, secure your home Wi-Fi with a password. With more homes connected to the web, secured systems become more important, from wireless printers to wireless door locks and wireless thermometers. These can be access points for identity thieves.
▪ Back up files on computers and mobile phones. A cloud service or an external hard drive can be used to copy information from computers or phones – providing an important place to recover financial or tax data.
▪ Working from home? Consider creating a virtual private network (VPN) to securely connect to your workplace.

The Security Summit partners also note that security measures should extend to mobile phones – an area that people sometimes can overlook. Thieves have become more adept at compromising mobile phones. Phone users also are more prone to open a scam email from their phone than from their computer.

Taxpayers can check out security recommendations for their specific mobile phone by reviewing the Federal Communications Commission’s “Smartphone Security Checker” through the following link: https://www.fcc.gov/smartphone-security. Because phones are used for shopping and even for doing taxes, remember to make sure phones and tablets are just as secure as computers.

Neither the Rhode Island Division of Taxation nor the IRS will call, text, or email you about your federal Economic Impact Payment or your federal or state tax refund. Neither the Rhode Island Division of Taxation IRS will call with threats of jail or lawsuits over unpaid taxes. Those are scams.

The Federal Bureau of Investigation issued warnings earlier about fraud and scams related to the pandemic. It specifically warned of COVID-19 schemes related to taxes, anti-body testing, healthcare fraud, cryptocurrency fraud, and others. COVID-related fraud complaints can be filed at the National Center for Disaster Fraud at: https://www.justice.gov/disaster-fraud.

The Federal Trade Commission also has issued alerts about fraudulent emails claiming to be from the Centers for Disease Control or the World Health Organization. Consumers can keep atop the latest scam information and report COVID-related scams at www.FTC.gov/coronavirus.




The Security Summit consists of the IRS, the Rhode Island Division of Taxation, other states’ tax agencies, and the tax community -- including tax preparation firms, software developers, tax professional organizations, and financial institutions. Partners

The official website of the Federal Trade Commission, protecting America’s consumers for over 100 years.

Beware of new scam involving federal economic impact payments  Security Summit issues alert about thieves who try to tri...
11/05/2020

Beware of new scam involving federal economic impact payments Security Summit issues alert about thieves who try to trick people via smartphone texts

PROVIDENCE — The Internal Revenue Service, the Rhode Island Division of Taxation, and other partners in the Security Summit today warned of a new text scam in which thieves try to trick people into disclosing bank account information under the guise of receiving the $1,200 federal economic impact payment.

The IRS, states, and the tax-preparation industry, working together as the Security Summit, remind taxpayers that neither the IRS nor state tax agencies will ever text taxpayers asking for bank account information so that an economic impact payment deposit may be made. (Economic impact payments are sometimes called “stimulus payments”, “COVID-19 payments”, or “recovery rebates”.)

“Criminals are relentlessly using COVID-19 and economic impact payments as cover to try to trick taxpayers out of their money or identities,” said IRS Commissioner Chuck Rettig. “This scam is a new twist on those we’ve been seeing much of this year. We urge people to remain alert to these types of scams.”

How it works

The scam text message states:

“You have received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment into your account. Continue here to accept this payment …”

The text includes a link to a fake phishing web address. This fake phishing URL, which appears to come from a state agency or relief organization, takes recipients to a fraudulent website that impersonates the IRS’s “Get My Payment” website. Individuals who visit the fraudulent website and then enter their personal and financial account information will have their information collected by these criminals.

People who receive this text scam should take a screen shot of the text message that they received and then include the screenshot in an email to [email protected] with the following information:

• Date/Time/Time zone that they received the text message; • The number that appeared on their Caller ID; and • The number that received the text message.

Keep in mind that neither the IRS nor the Rhode Island Division of Taxation sends unsolicited texts or emails. Neither the IRS nor the Rhode Island Division of Taxation calls people with threats of jail or
ADV 2020-46 ADVISORY FOR TAX PROFESSIONALS SECURITY SUMMIT NOVEMBER 4, 2020
RHODE ISLAND DIVISION OF TAXATION - PAGE 2 OF 2
lawsuits. Also, neither the IRS nor the Rhode Island Division of Taxation demands tax payments on gift cards.

People who believe they are eligible for the federal economic impact payment should go directly to the following official IRS webpage: https://www.irs.gov/coronavirus/get-my-payment. People who do not have a filing requirement but who are eligible for a federal economic impact payment can use the following official IRS webpage until November 21, 2020, to claim their payment: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here.

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

08/02/2019

Golden, Gormly & Company are committed to providing you with quality, personalized accounting, tax preparation, and financial services. We use the latest technologies, including top of the line tax software. We also offer electronic processing, so you get your tax refunds quickly and easily.

Address

55 Cherry Lane, 2A
Wakefield, RI
02879

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

+14017831040

Website

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