Watch Out For IRS Tax Scams

There have been reported incidents of swindlers using an IRS pitch as a 2016 IRS Tax scam. One such incident happened to Brett. He panicked after hearing a phone message that the IRS was about to investigate him. Brett is a 43 year old contractor from the County of Morrow. He wondered whether he had missed anything in regards to his Free Turbo Tax 2015 application. So he decided to make a call back and then his worry turned to anger. There are lots of scammers out there especially as the Taxes 2016 period gets near.

TurboTax

At this time of the year, thieves and con artists fine tune their tricks and up their game in order to swindle individuals, often threatening them with jail terms and deportation. The IRS has now issued an alert to the public, warning of the phone scam and other scams people are likely to be exposed to at this time of making their tax returns. Turbo Tax 2015 should help people allay their fears in regards to their 2016 taxes.

2016 IRS Tax Scams
Photo by Judith E. Bell

The Ohio State Attorney General has been fielding questions and complaints from local residents, especially those from the counties of Morrow, Fairfield and Franklin. It is expected that con artists will pull scams pretending to be from the government as this helps their scams seem more legitimate.

 

Three Savings Strategies Used By Millennials

The pressing desire for consumers to search for low prices lets us know that Millennial’s love great deals. Because of the volatile economy, individuals born between 1980 and 2000 are always looking for ways to save on purchases. Here are some savings strategies you should consider.

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Even economists are noticing how conscious these consumers are being with their funds. How are Millennial’s capable of maintaining this frugal lifestyle consistently?

Millennial’s Use Social Media

You may or may not be a fan of social media, but it is one of the main ways this generation chooses to communicate. Individuals are sharing everything from their opinions to pictures of their dinner plate. Social media users are also sharing their shopping experiences. It is not uncommon to see someone promote a deal or coupon in their status.

savings strategiesMillennial’s will search the web for the best deal

Since most shoppers have desktops or mobile devices, they can research a product before making a purchase. They can visit multiple retail websites and coupon websites for hours before finally making a purchase. They even look for the least expensive ways to handle obligations like paying bills and filing taxes. For instance, Millennial’s would rather use turbo tax software than visit a tax preparer in a shopping mall.

Millennial’s will usually stick to the price they wish to pay

Instead of allowing the store owner to set the price, Millennial’s are forcing these online retail merchants to adjust their prices. The amount of competition online gives this generation the upper hand. If store owners will not offer reasonable prices, these shoppers will click off and visit another site within seconds.

Millennial’s are always searching for the best price, and they will set a limit and stick to it. This generation is always looking for the best deal and rate. The internet allows them to compare prices from virtually everywhere. This great convenience gives them the ability to be frugal at all times.

TurboTax ItsDeductible Is Going Mobile

On December 3, 2013, Intuit Inc announced that its’ new TurboTax ItsDeductible app for iPhone had become available. This app is aimed at helping the estimated seventy-five percent of US citizens who donate to charity, convert their goodwill into sizable tax deductions. This app is free of charge and offered on the iPhone with iOS7 app store.

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The Turbo Tax online program itself is very popular. When combined with the portability and convenience of a mobile device, the TurboTax ItsDeductible app allows people to easily monitor their charitable donations. This app features valuations for over ten thousand commonly donated items, like toys, clothing, sporting goods, games, appliances, household products and more.

Although most taxpayers are aware that non cash donations might be tax deductible, they do not always value the goods they donate to charity correctly. Usually, this is because they have just guessed the value randomly. For example, sometimes, bags of clothes are donated with $50.00 valuations, when the real value is over $300.00.

Prior to leaving a donation facility, people can easily and quickly input their donated goods into TurboTax ItsDeductible. Then, the app will automatically make a fair market valuation, based on guidelines by the Internal Revenue Service. This ensures that users receive the full deductions they are entitled to on their tax returns. The app uses location sensitive technology to quickly capture the address of the charity, for tax record keeping. All philanthropists should monitor their donations with this app, to be properly rewarded for their generosity.

Tax Carnival Ecstasy – November 19, 2013

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Welcome to the November 19, 2013 edition of Tax Carnival Ecstasy. We start this carnival with an article from Bill Smith on filing back taxes. We also have a really good story on filing your taxes after the October 15th deadline has passed for the year. And finally, Intuit is helping those looking for advice on completing their Affordable Care applications. Hope you bookmark, share, tweet, and like on Facebook the Tax Carnival Ecstasy.

filing

Bill Smith presents How To File Back Taxes posted at 2011 Tax, saying, “All people with income need to file taxes yearly. If you have missed one or more years in the past ten, now is the time to file back taxes.”

Death & Taxes (film)
Death & Taxes (film) (Photo credit: Wikipedia)

Bill Smith presents IRS Payment Plans Are Ideal For Paying Your Taxes On Time posted at 2012 Taxes – Free Tax Filing Options, saying, “Just don’t use one to pay your taxes when they come due as the IRS has a number of payment plans that won’t stress out your budget and incrementally trap you in a negative cycle.”

retirement

Ward Carson cfp presents Women and Retirement – The Happy 401k posted at The Happy 401k, saying, “Ward Carson is a CERTIFIED FINANCIAL PLANNER™. He is the owner of The Happy401k.com and the Managing Partner of Cambridge Financial & Insurance Group. Cambridge provides counsel to corporate clients in the areas of qualified retirement plans and executive/employee benefits. Through TheHappy401k.com, Ward shares valuable insight for sponsors and participants of corporate retirement plans”

John Schmoll presents Can You Earn Too Much to Be Good With Money? posted at Frugal Rules, saying, “A common myth is that the higher your income is the better you are with money. This problem with this myth is that it overlooks the fact that if you spend a lot while making a good salary you’ll have nothing to show for it. The path to growing wealth, however, is made up of being frugal with your spending and having your money work for you as opposed to being a slave to it.”

tax law

Bill Smith presents Filing Taxes In 2013 After October 15 posted at 2013 Taxes, saying, “If you were unable to pay your taxes earlier in the year, you might have been dreading the October 15th deadline for your deadline extension.”

tips

Lee Hadnum presents Where are the tax havens? posted at UK Tax Planning Blog.

Bill Smith presents Intuit Offering Personalized Answers To Questions About The Affordable Care Act posted at 2012 Tax – Free Tax Filing Options, saying, “To provide assistance to the estimated 50,000,000 uninsured US citizens facing crucial healthcare decisions, Intuit Inc recently launched their TurboTax 2012 AnswerXchange.”

Bill Smith presents Pink Slip Loans Worse Than Payday Loans posted at 2012 Taxes – Free Tax Filing Options, saying, “Pink slip loans are available online. However, looking for a pink slip loan online requires due diligence.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

American Tax Relief With Turbo Tax

American Tax Relief With Turbo Tax

If you are looking to find American tax relief, hiding from the IRS is not the way to do it. Through services by companies like Turbo Tax, you can stay ahead of your delinquent taxes, and avoid the penalties that this can accrue.

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For people who have not yet filed their taxes, or owe back taxes to the IRS, it is best to start with finding out about your options. There is a solution for your problem, and it usually has to do with not putting off what needs to be done. Filing taxes late is better than not filing them at all. The sooner it is done, the sooner you can resolve your back taxes and limit added interest fees. The upside to acting fast is that you can begin to take control of your financial situation. The downside is that once the IRS decides to take action, you will immediately feel the impact. The IRS can put levies on your wages and bank accounts, and failure to file your tax returns is even punishable by jail time and a heavy fine – $10,000 per year that you have not filed.

Tax Relief
stevepb / Pixabay

Remember, however, that you do reserve the right to file your tax return, no matter how late it is. There reaches a point where tax relief will take more than just your own hard work. If you owe more than $15,000 in back taxes, you should consider hiring professional help from an attorney or a certified tax specialist.

Tax Carnival Ecstasy – August 20, 2013

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Tax Carnival Ecstasy – August 20, 2013

Welcome to the August 20, 2013 edition of Tax Carnival Ecstasy. We start this edition an article about filing back taxes from the blog 2009 Taxes by Bill Smith. John Schmoll takes a look at when is the right time to start saving money for retirement. Finally Daniel has an article on paying a personal tax to yourself from his site Sweating the Big Stuff. Hope you like the articles, like on Facebook, +1 with Google, and share the link on Twitter.

filing

Bill Smith presents Can You Still File 2009 Taxes With Turbo Tax 2009? posted at 2009 Taxes, saying, “Turbo Tax 2009 was released in late 2009 as a way for people to prepare and file their taxes themselves from a computer.”

Leader Phil Mickelson teeing off on the 18th h...
Leader Phil Mickelson teeing off on the 18th hole at TPC at Sawgrass during the final round of the 2007 Players Championship. Mickelson bogeyed the hole but still won the title by two shots. (Photo credit: Wikipedia)

retirement

Bill Smith presents Phil Mickelson Needed to Pay 61% in Taxes For His Fame posted at 2010Taxes, saying, “Phil was recently ranked at number 7 in Forbes list that consisted of the highest earning athletes around the world but paying this heavy amount of taxes to the government(s) is really a tough thing to do for him.”

John Schmoll presents When Should You Start Saving for Retirement? posted at Frugal Rules, saying, “Saving for retirement can be challenging for many. There are many excuses to use from not having enough money to it being too far away. However, by starting to save for retirement earlier rather than later, regardless of the amount, you put yourself in the best position possible.”

John Schmoll presents Investing in Stocks: Are You a Trader or Investor? Plus a Giveaway! posted at Frugal Rules, saying, “There are various strategies investors can implement in the stock market yet many do not stop to think which is best for them. This lack of preparation can significantly undermine their investing efforts and hinder their attempts to grow wealth and saving for retirement.”

taxes

Bill Smith presents 5 Popular Business Destinations For Tax Havens posted at 2014 Taxes, saying, “Taxes can often prove to be rather annoying expenditures that Government enforces on its people.”

tips

Daniel presents Force Yourself To Save With A 100% Personal Tax posted at Sweating The Big Stuff, saying, “With income taxes, you pay the government for money you earn. But with a personal tax, you pay yourself for money you spend.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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