WGN TV Show Notes For Tuesday, April 3, 2001
ANCHOR: You’ve got just 12 days to file your federal and state income taxes. But that’s still enough time to get caught in tax scam.
ANCHOR: Money and real estate expert Ilyce Glink is here with the tax scams you’ll want to avoid.
ILYCE: Pay just 49 dollars and you’ll never pay taxes again. Hey, you don’t need taxes withheld from your wages. And pay your taxes, win a prize! It all sounds so tantalizing. And yet, if you believe anything I’ve just said, you could find yourself falling for one of a bunch of new tax scams. Here are some of the most popular tax scams making the rounds right now.
SCAM: No taxes withheld from your wages.
If you work for a company, your employer must withhold federal income or employment taxes from wages paid. An illegal scheme encourages employers not to withhold the proper amount of taxes. If your employer fails to take taxes from your wages and you are not self-employed or an independent contractor, contact the IRS at 800-829-1040
SCAM: “I don’t pay my taxes, why should you?”
Con artists will charge you a hefty fee to share their reasons why you shouldn’t pay taxes. But follow their advice, and you’ll owe not only your taxes, but fees and penalties. You could get a jail term as well.
SCAM: African Americans get a special tax refund
There is no provision for reparations for slavery in the tax law. Anyone who tells you they can collect on your behalf is lying.
SCAM: Pay the tax, win a prize!
The caller says you’ve won a prize and all you have to do is pay your taxes. Except you don’t pay your taxes to the government, but to the caller.
SCAM: Untax yourself for $49.95
You can’t. For any price.
SCAM: “I can get you a big refund – for a fee!”
No one can get you a refund unless you’ve overpaid Uncle Sam during the year. The only fee you should pay is to your own private tax preparer.
SCAM: IRS “agent” comes to your house to collect your taxes
C’mon. Think about it. The IRS hardly has the funds to do what it needs to do. It certainly doesn’t have the funds to send people door to door, collecting taxes.
To report Tax Scams:
IRS at 800-829-1040
Treasury Inspector General’s Hotline: 800-366-4484
April 3, 2001.
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