Good Lifestyle

Procrastinators, take note: the 2023 Tax season approach of his last month. But do not let this deadline to approach quickly bringing you to make mistakes when you return. The Internal Internal Service (IRS) has issued multiple warnings concerning tax errors to avoid this year - and with regard to the complaint of certain credits, the penalties could be serious. Now, a new alert warns against credits that could provide you with an audit and a fine. Read the rest to find out what you want to avoid your income tax return.

Read this then: Taking these 2 deductions could make you audited by IRS, warn the experts .

As taxpayers know well, credits can really help you You are eligible for go not claimed. AE0FCC31AE342FD3A1346EBB1F342FCB

"Credits can reduce taxes that you must: "The IRS explains.

Some credits may also be refundable or partially refundable, which means that you could really find money from IRS. If you claim certain credits on your income declaration, "you may be able to obtain a more important refund, while others may reimburse you even if you do not owe any tax," said the agency.

Credits do not come without risk, however. In fact, claiming credits for which you are not eligible could cause you major trouble with the IRS.

The crooks regularly push people to claim credits that they are not really eligible this year. In a press release on March 23, the IRS warned of a common tax scam involving third -party promoters of False fuel tax credit complaints.

"The fuel tax credit is intended for the use of business and off -road agriculture and, as such, is not available for most taxpayers," said the agency. "However, unscrupulous preparers and promoters of income statements encourage taxpayers to inflate their reimbursements by wrongly claiming credit."

The IRS said it has seen a significant increase in crooks convincing taxpayers to fraudulently claim this credit by promising them that they will get a greater refund. But in reality, these crooks seek to collect inflated costs, reimbursement fraud and identity theft.

"These crooks will often charge heavy fees for these false complaints, and participants are also faced with the possibility of an identity theft. This is another example that people should always remember: be suspicious if a tax case seems too beautiful to be true ", the commissioner of the IRS Danny Werfel said in a press release.

In relation: For more information, register for our daily newsletter .

On March 20, IRS sounded the alarm On another scam, this time with regard to "largely circulating promoter complaints involving employee retention credits".

According to the IRS, the crooks have pushed advertisements on the radio and the Internet where they promote targeted services to help taxpayers to claim the Employee retention credit (ERC) - if qualified or not. The ERC was introduced in 2020 and was designed to encourage employers to "keep employees on their pay despite economic difficulties related to COVID-19" by making them eligible for new credits.

"The aggressive marketing of these credits is deeply disturbing and a major concern for the IRS," said Werfel. "Although the credit has provided a financial rescue buoy to millions of companies, there are deceptive promoters for people and businesses thinking that they can claim these credits. There are very specific directives around these Credits from the time of the pandemic; they are not available to anyone. "

IRS also revealed that a wage -based scams Pushes people to falsely claim a credit that is not even available this year. According to the agency, this regime encourages taxpayers to abuse their W-2 information to claim sick leave and family leave credits for certain self-employed workers.

"These credits were available for self -employed workers for 2020 and 2021 during the pandemic; they are not available for income declarations of 2022," warned the IRS.

The IRS increases its efforts to take complaints from fraudulent credit on income declarations in 2022. The agency said that its processing systems "now stop a large number of credit repayment complaints to fuel tax" The listeners trained to deeply examine the complaints of the ERC.

"People have to remember that IRS actively audit and conducted criminal investigations related to these false claims," warned Werfel. "We urge honest taxpayers not to be taken in these regimes."

Whether they were deceived by a crook, taxpayers are ultimately responsible for the false credit complaints. "Taxpayers must remember that they are still responsible for the information reported on their income statements," said Werfel, adding that the complaint of certain credits wrongly could make them pay penalties.

But it may not be the worst result for taxpayers. "The declarations filed by individuals and income preparers who knowingly demand a credit to which they are not entitled can make fines and even be subject to federal criminal proceedings and imprisonment," warned the IRS.

Best Life offers the most up -to -date financial information for high -level experts and latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.