taxes

Beware the dirty dozen tax scams of 2014

Taxes » Tax Law » Beware The Dirty Dozen Tax Scams Of 2014

'Free money' from inflated refunds
© JohnKwan/Shutterstock.com

The old saying "There's no such thing as a free lunch" has an equally true tax adage cousin: There's no such thing as free money.

But tax con artists who claim they can get filers free money from the IRS based on fictitious Social Security benefits or false tax credit claims find enough gullible victims to get this egregious tax scam onto the 2014 Dirty Dozen list.

The IRS says con artists specializing in these schemes tend to target low-income individuals and the elderly. The scam typically appears as fliers advertising free money from the IRS. They usually are posted in churches, and then the word spreads by unsuspecting and well-intentioned people who want to share the news with friends and family.

The scam perpetrator gets taxpayer hopes up, collects money to file the fake claims and then is long gone by the time victims learn their claims are rejected.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.08%  0.10 4.18%
15 year fixed refi 3.11%  0.05 3.16%
10 year fixed refi 3.21%  0.01 3.22%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32% --0.00 4.32%
50K FICO-based HELOC 3.99% --0.00 3.99%
100K FICO-based HELOC 3.83% --0.00 3.83%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.80% --0.00 2.80%
48 month used car loan 3.00% --0.00 3.00%
60 month new car loan 3.17% --0.00 3.17%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99% --0.01 0.98%
2 Year CD 1.20% --0.00 1.20%
5 Year CD 1.82% --0.00 1.82%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.80% --0.00 15.80%
Cash Back Cards 16.42% --0.00 16.42%
Low Interest Cards 11.09% --0.00 11.09%
 
Next
advertisement
WEEKLY TAX TIP NEWSLETTER

Our tax expert Kay Bell provides resourceful tips and advice to help you stay prepared for filing.

advertisement

Connect with us