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IRS Scammers Net $14 Million From 3,000 Victims

Shires Financial - IRS Scammers Net $14 Million From 3,000 Victims

By Michael Cohn
January 21, 2015
AccountingToday.com

The pervasive IRS impersonation phone scam has claimed nearly 3,000 victims who have collectively paid over $14 million, according to a new warning from the Treasury Inspector General for Tax Administration (TIGTA).

As the 2015 tax filing season begins, TIGTA reminded taxpayers to beware of phone calls from individuals claiming to represent the IRS while intended to defraud them.

“It is critical that all taxpayers continue to be wary lof unsolicited telephone calls from individuals claiming to be IRS employees,” said ITGTA Inspector General J. Russell George in a statement. “This scam, which is international in nature, has proven to be the largest scam of its kind that we have ever seen. The callers are aggressive, they are relentless, and they are ruthless. Once they have your attention, they will say anything to con you out of your hard-earned cash.”Continue reading

Alert: Colorado Tax Amnesty Bill is Enacted

Shires Financial - Colorado Tax Amnesty Bill is Enacted

Governor Hickenlooper signed Senate Bill 184 on June 3, 2011 which provides for “tax amnesty” to Colorado individuals and businesses who owe back taxes for taxes otherwise due on or before December 31, 2010.

Under this new law, taxpayers may have all penalties waived and the interest on the past due balance of applicable taxes reduced by half. There will be a window from October 1, 2011 through November 15, 2011 for payment of such back taxes in full to qualify for the elimination of penalties and reduction of interest. Time is of the essence in getting any delinquent tax filings made as the amnesty program does not apply to some taxpayers who receive a notice of assessment from the Department of Revenue before actually filing the applicable tax returns.Continue reading