If you're trying to commit tax fraud by understating your income, this IRS tool is your biggest nightmare! 🤯 The IRS uses Information Return Processing to match info submitted by payers (like your employer on your W-2 or your brokerage on your 1099) to the amount included on a tax return by a taxpayer. 🔄 Of course, differences in these amounts aren't ALWAYS fraud! Sometimes, discrepancies are caused by a simple human error like a typo. 🚩 But, here's an example of a fraudulent return that IRP can catch: If a taxpayer says they only made $50,000 from their job, but the W-2 from their employer shows $100,000, the IRS can flag these two disagreeing values in its system. The easiest way to avoid tax fraud is to accurately state your income, expenses, deductions, and credits! 👋 When we work together, my goal is to help you pay the least amount of taxes that you are legally obligated to pay. #taxfraud #nightmare #irs #informationreturnprocessing #w2 #1099 #taxreturn #incomediscrepancy #humanerror #typo #fraudulentreturn #irp #accurateincome #avoidtaxfraud #expenses #deductions #credits #legalobligation #taxes #payyourshare #financialhonesty #taxintegrity #accuratereporting #jcmaccounting
HOW TAXPAYERS MAY CHALLENGE THE IRS’S POSITION…READ MORE https://tinyurl.com/339ujz7p #lbcpa #taxes #accounting #taxpayers #IRS #audit #TaxDTaxReturn #FraudulentReturn #IRS #TaxReturn #UmpaidTaxes