4 Key Changes To Depreciation Under The TCJA

As the Tax Cuts and Job Act (TCJA) continues to be unraveled by tax professionals, it’s important to review the changes and their implications on business operations and tax strategies. In this article, we’ll highlight TCJA’s changes to first-year bonus depreciation,...

3 Ways A CPA Can Make Your Business Successful

It can often seem unnecessary to hire a certified public accountant (CPA) since bookkeepers and accountants are frequently believed to be the be-all-end-all for a business’ finances. However, there are certain advantages to having a CPA by your side. While we...

3 Myths You Shouldn’t Believe About Accountants

To a business owner, an accountant that helps make sense of business finances can seem like a godsend. Whether you’re just starting your business or are already established, having a great accountant by your side is a sure way to keep your business running smoothly....

3 Ways QuickBooks Apps Can Improve Your Business’ Efficiency

Over 5.6 million businesses use QuickBooks to streamline their business’ accounting. The eye-pleasing interface, streamlined workflows, and powerful automation that QuickBooks provides to these business owners are invaluable, saving them time and money. While...

Client Spotlight: Fresno County Economic Development Corporation (EDC)

We’re excited to highlight Fresno County’s Economic Development Corporation (EDC) as our spotlighted partner this month! For over 30 years, the EDC has promoted business success within Fresno County through strategic partnerships at both the local and national level....

How To Calculate The Pass-Through Deduction For 2018

Formally known as the Section 199A deduction, the “pass-through” deduction allows many sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of their qualified business income. Taxpayers who are eligible can also deduct up...

Don’t Overlook These 5 Business Deductions As You File for 2018

As the old saying goes, “you gotta spend money to make money”. The topic of expenses and deductions is likely a major part of your meetings and discussions with your CPA (if you don’t have a CPA, read this) in these first months of 2019. In this article, we’ll list...

4-Steps to Choosing the Right Accountant for your Business

Choosing the right accountant to work with your small business may seem like a daunting risky decision, however it really doesn’t have to be when you’re equipped with the right tools to measure their performance. The big question is whether to hire an outside firm...

Get Your QuickBooks Ready for your Accountant

Finalizing your books for the year has already been on your mind since perhaps the beginning of the last quarter of the year. And now you have to have your QuickBooks file ready for your CPA. How can you make it easier for them to prepare your annual financial...

Is it a Requirement for a Small Business to have a CPA?

Accountant Vs. CPA First, it is important to distinguish the difference between a CPA and an Accountant. In general terms, an accountant is a professional who follows specific rules and regulations, including Generally Accepted Accounting Principals (GAAPs), which are...

Real or Scam: Recognizing Contact by the IRS

Reading Time: 2 minutes

Everyone knows that contact by the IRS is something to be taken seriously. It’s always in your best interest to respond promptly to any communication from the IRS to ensure that you remain on their good side.

But in a world filled with scam artists and fraudulent individuals doing everything they can to access your financial information and other data, how do you identify a legitimate IRS communication from a fake? It’s not always as easy as you think. Fraudsters have become increasingly more sophisticated in making their false communications look like the real thing.

We’ve put together this short guide to help you identify real IRS communications and sort them from the fakes.

How the IRS Contacts You

The most common way the IRS contacts taxpayers is through the mail, specifically the US Postal Service. They will only contact you via phone call if you have a tax bill that’s overdue, or to tour a business that’s being audited or investigated.

In these cases, the phone or in-person contact is almost always preceded by contact via mail.

What the IRS Won’t Do

The IRS never demands that you pay immediately without verifying the legitimacy of the tax bill, and will also never demand that you pay using a specific payment method. They’ll certainly never ask you for your credit card number over the phone.

Fraudsters often use scare tactics, threatening to call the police or immigration officials if you don’t pay them immediately. But the IRS is unable to affect your immigration status or revoke documents like your driver’s license.

Visits from the IRS

If you do receive an in-person visit from the IRS, the representative will always have two forms of certified, official identification with them. The first is a pocket commission, and the second is something known as an HSPD-12 card that’s standard among federal employees.

Paying the IRS

There is only ever one recipient that you will pay for IRS tax debts—the US Treasury. Anyone asking you to make out a check to a different source does not represent the IRS.

When in Doubt, Contact the IRS Directly

If you’re not sure whether a communication came from the IRS, simply contact the IRS directly. Contact information can be found on their site. If you suspect a phone scam, you can call their IRS Impersonation Reporting line at 800-366-4484.

You can also report suspected fake emails to [email protected].



Submit a Comment

Your email address will not be published. Required fields are marked *