IRS Announces Biggest Tax Scams

The United States Internal Revenue Service (IRS) announced the 12 biggest tax scams for 2008. They are:

1. Phishing
2. Scams related to the economic stimulus package
3. Frivolous arguments
4. Fuel tax creditA Tax Credit is an amount by which tax owed is reduced directly. In other words, a dollar-for-dollar amount is subtracted directly from the taxes you owe. scams
5. Hiding income offshore
6. Abusive retirement plans
7. Zero wages
8. False claims for refund and requests for abatement
9. Return preparer fraud
10. Disguised corporate ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it!
11. Misuse of trusts
12. Abuse of charitable organizations and deductions

Remember the IRS will not call you asking for personal information. And if it sounds too good to be true it probably is.

Mar. 19, 2008

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