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Ebay confirmed to The Hill that it has “taken steps to comply with the new IRS 1099-K reporting requirements, including collecting social security numbers from customers when they pass the $600 ...
When it comes to this scam, a seller will offer an amazing deal on a car with a relatively believable reason for needing a quick sale (i.e. the cause for the amazing discount).
In a recent BBB Scam Tracker report, a consumer shared an example of a tax email phishing scam. “Received an email telling me that after annual calculations of my fiscal activity I was eligible ...
1099 OID fraud is a common scam used to obtain money from the U.S. Internal Revenue Service (IRS) by filing false tax refund claims. [1]Form 1099-OID is intended to be submitted to the IRS by the holder of debt instruments (such as bonds, notes, or certificates) which were discounted at purchase to report the taxable difference between the instruments' actual value and the discounted purchase ...
The scammer tells the seller (victim) that to complete the transaction, the seller needs to upgrade their account to a business account. The scammer sends the victim a bogus payment notice for the item's price plus what they claim is a business account upgrade fee, then asks the victim to buy the upgrade from someone impersonating the payment ...
For scams conducted via written communication, baiters may answer scam emails using throwaway email accounts, pretending to be receptive to scammers' offers. [4]Popular methods of accomplishing the first objective are to ask scammers to fill out lengthy questionnaires; [5] to bait scammers into taking long trips; to encourage the use of poorly made props or inappropriate English-language ...
But the repercussions can be significant if taxpayers are caught in this scam. The IRS can slap a variety of penalties, including those of $5,000 or even jail time.
OIC companies aren’t alike: some are better, or worse, than others. These companies often don’t take tax cases if the taxpayer owes less than $10,000.