January 23, 2014 11:24 am

Beware Tax Scams

With tax seasons comes the advent of tax scams by email and phone, including text messages. The IRS cautions taxpayers to be wary at this time of the year. Here are some pointers to help you:

  • The IRS does not initiate contact with taxpayers by email to request personal or financial information.
  • The IRS never asks for personal identification numbers.
  • The IRS does not ask for access information to credit cards, bank accounts, or other financial accounts.
  • Do not open any attachments or click on any links from bogus communications.

If you have any questions about a communication purported to come from the IRS, call the Service at 800-829-1040 for confirmation.

Source: IR 2014-5

advertisement
Tax Glossary

Accelerated depreciation

Depreciation methods that allow faster write-offs than straight-line rates in the earlier periods of the useful life of an asset. For example, in the first few years of recovery, MACRS allows a 200% double declining balance write-off, twice the straight-line rate.

More terms