Watch for scams

Ten Forty + Quality Tax Preparation & Financial Services 281-397-7777 Fax 281-397-7443 Tax Tips Be generous and wary: Protect yourself from these tax scams As the traditional season of giving begins, scam artists are stepping up efforts to take advantage of your generosity and compassion. Here are two schemes the IRS has recently issued warnings about. • IRS impersonators. The scam: Your phone rings and a caller says, "I'm from the IRS, you owe us money, and we're going to throw you in jail if you don't pay immediately with a pre-paid debit card or wire transfer." The truth: The IRS will not make initial contact about your tax return over the phone, and will never require you to pay your taxes via debit or credit card or wire transfer. Defense: Hang up immediately. Report the scam attempt to the Treasury Inspector General for Tax Administration, the Federal Trade Commission, and the IRS. • Fake charities. The scam: You're approached via telephone call, social media, email, or in-person solicitation, and asked to donate to a newly established charity to help "educate the public" about victims of the floods in South Carolina or other major disaster. The truth: Scammers want both your money and to lure you into revealing personal information so they can compromise your financial identity. Defense: Find out if the charity is registered in your state by visiting the website of the National Association of State Charity Officials. Also check with the Better Business Bureau, Charity Navigator, GuideStar, or similar watchdog groups. Please call us if you have any questions. 1040 + Quality Tax Preparation & Financial Services Joseph C Becker Ten Forty plus Quality Tax Preparation & Financial Services www.tenfortyplus.com 281-397-7777, Fax 281-397-7443 joeb@tenfortyplus.com Contact Us There are many events that occur during the year that can affect your tax situation. Preparation of your tax return involves summarizing transactions and events that occurred during the prior year. In most situations, treatment is firmly established at the time the transaction occurs. However, negative tax effects can be avoided by proper planning. Please contact us in advance if you have questions about the tax effects of a transaction or event, including the following: • Pension or IRA distributions. • Retirement. • Significant change in income or • Notice from IRS or other deductions. Revenue department. • Job change. • Divorce or separation. • Marriage. • Self-employment. • Attainment of age 59½ or 70½. • Charitable contributions • Sale or purchase of a business property in excess of $5,000. • Sale or purchase of a residence or other real estate.