The Internal Revenue Service recently renewed a consumer alert for email schemes after seeing an approximate 400 percent surge in phishing and malware incidents so far this tax season.
The emails are designed to trick taxpayers into thinking these are official communications form the IRS or others in the tax industry, including tax software companies. The phishing schemes can ask taxpayers about a wide range of topics. Email scan seek information related to refunds, filing status, confirming personal information, ordering transcripts and verifying PIN information. When people click on these email links, they are taken to sites designed to imitate an official-looking website, such as IRS.gov. The sites ask for Social Security numbers and other personal information. The sites may also carry malware, which can infect people's computers and allow criminals to access your files or track your keystrokes to gain information.
What to look for in these scams:
Taxpayers receive an official-looking email from what appears to be an official source, whether the IRS or someone in the tax industry.
The underlying messages frequently ask taxpayers to update important information by clicking on a web link. The links may be masked to appear to go to official pages, but they can go to a scam page designed to look like the official page. The IRS urges people not to click on these links, but instead send the email to phishing@irs.gov.
Recent email examples the IRS has seen include subject lines and underlying text referencing:
• Numerous variations about people's tax refunds.
• Update your filing details, which can include references to W-2.
• Confirm your personal information.
• Get my IP PIN.
• Get my E-file PIN.
• Order a transcript.
• Complete your tax return information.
It is important to keep in mind the IRS generally does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information online (www.irs.gov) that can help protect taxpayers from email scams.
Call us at (219) 769-3616 with your questions, or email them to tlynch@swartz-retson.com.
Wednesday, May 11, 2016
Monday, February 22, 2016
Tax Numbers for 2016 and 2015 – Part 2
Tax Numbers
for 2016 and 2015 – Part 2
The
numbers for 2015 in the chart below apply to your 2015 returns, and the numbers
for 2016 should be used in your 2016 tax planning.
2016 2015
Income
(AGI) phase-out for personal
exemption
and itemized deductions
*
Single Starts
at $259,400 Starts at $258,250
*
Joint returns and surviving spouses Starts
at $311,300 Starts at $309,900
*
Married filing separately Starts
at $155,650 Starts at $154,950
*
Head of household Starts
at $285,350 Starts at $284,050
Health
savings account contribution limit
*
Individual $3,350 $3,350
*
Family $6,750 $6,650
*
Additional for 55 & older $1,000 $1,000
Automobile
standard mileage rate
*
Business 54¢ 57.5¢
*
Medical/moving expense 19¢ 23¢
*
Charitable work 14¢ 14¢
Estate
tax top rate 40% 40%
Estate
tax exclusion $5,450,000 $5,430,000
Annual
gift tax exclusion (per donee) $14,000 $14,000
Alternative
minimum tax exemption
*
Single $53,900 $53,600
*
Married, joint $83,800 $83,400
*
Married, separate $41,900 $41,700
Section
179 deduction limit $ 500,000 $ 500,000
Section
179 purchase limit $
2,000,000 $ 2,000,000
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