August 7, 2009 12:00 am

Identity Theft Scams: IRS Says Beware

The IRS has warned consumers to steer clear of any identity theft scams that use the IRS name, logo, or website to convince them that the communication comes from the government. The scammers want your personal information so they can use it to obtain credit in your name (identity theft). The scams can be via email (called “phishing”), fax, or telephone. Recent scams include:

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Tax Glossary

Gift tax

Gifts in excess of an $12,000-per-donee annual exclusion are subject to gift tax, but the tax may be offset by a gift tax credit.

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