Avoid Tax News Today

With tax season upon us, Florida’s Chief Financial Officer (CFO) Jimmy Patronis is reminding Floridians to beware of tax-related fraud and scams.

The week of Jan. 29 through Feb. 2 has been designated as National ID Theft Awareness Week, and with the Internal Revenue Service (IRS) also officially opening up tax season

You can use your income to buy an asset for your spouse. But any income from that asset will be clubbed with your income and taxed accordingly. This can’t be taxed as part of your spouse’s income. Doing so can get you an income tax notice.

With the 2022 tax filing season officially open as of Jan. 23, it's an opportune time to take some basic security measures to avoid becoming a victim of tax identity fraud. Tax ID fraud is one of many types of general tax scams, which keeps government enforcement agencies very busy. Late-last year, the IRS's Criminal Investigation division announced it identified $5.7 billion in tax fraud for fiscal year 2022, versus $2.3 billion from two years earlier. Tax ID fraud occurs when a per...

Tax scams are among the most stubborn cons out there. Scammers pose as the IRS trying to trick people into paying up or sharing personal information.

While the deadline for filing taxes is April 18 this year and many Americans may not want to think about taxes so close to the new year, experts are recommending filing them early for something often...

New year, new tax rules. For small business owners or independent contractors, this change, introduced via the American Rescue Plan, might make a big difference in your accounting. See: 4 Ways to Pay...

This year's tax prep may be a bit more complicated than usual for many people. For starters, many who have never filed taxes before will be looking to file in order to claim the balance of their...

Former Rhode Island Governor and United States Secretary of Commerce Gina Raimondo reportedly took advantage of a “little-known” federal law to avoid “huge tax hits,” according to reports.

Tax fraud may be on the rise this year; bank, IRS urge you file as soon as you can PORTLAND, Ore. (KTVZ) -- With the 2021 tax filing season officially underway, it’s a great reminder to file your taxes as soon as possible before the April 15 deadline to avoid potentially becoming a victim of fraud. Specifically, tax ID fraud, which remains an ever-present and widely concerning issue in the U.S. Late last year, the IRS announced it discovered $2.3 billion in such scams for fiscal year 2020 ...