Tax Day Freebies
Read More HERE
There aren't a ton of amazing deals for Tax Day today, but here's what some chains are offering.
Read More HERE
Today's Tax Day . . . Which Means It's the Top Day of the Year for Robocalls
Today is Tax Day. I'm sure you know that, but I guarantee SOMEONE just heard me say that, yelled out a bunch of F-bombs, and did a U-turn to speed to an H&R Block.
And if Tax Day wasn't bad enough already, here's an extra kick in the groin: A new study found it's also the top day for ROBOCALLS for the year.
The study looked at more than one billion phone calls from last year and found Tax Day had the most scam robocalls. 43% of Americans got one on this day last year, which is an insanely high number.
Scammers like today because everyone's on edge and not sure they did their taxes perfectly, so we're slightly more susceptible to someone posing as the IRS asking for money or personal info.
The study also found that April is the worst month for robocalls in general.
Read More HERE
Four Ways You May Have Committed Tax Fraud
It's always a huge relief to get your taxes done. But you still have to worry about being audited. Here are four ways you may have accidentally committed tax fraud . . .
1. You forgot to report all of your income. Sometimes money from side-gigs gets overlooked. Companies don't have to issue a 1099 unless they paid you more than $600 last year. But you're still supposed to report ALL income. Which also includes money from investments, rental properties, and gambling.
2. You stretched the truth on your business expenses. Like deducting the entire cost of your car or your phone, even though you also use them when you're not working. In cases like that, you're only supposed to deduct a percentage. Otherwise, it's tax fraud.
3. You inflated the value of your deductions. Like medical expenses, or work-related education expenses. It only applies if you itemized though. And more people took the standard deduction this year, because of the new tax code.
4. You overvalued your non-cash donations. Like that one box of junk you gave to Goodwill, then claimed it was worth $500. If you lied, it's technically tax fraud. But it's hard for the government to prove.
Read More HERE