Beware of Tax Preparer Fraud

Tax preparer fraud occurs when tax return preparers claim inflated business or personal expenses, including false deductions and excessive exemptions. Tax preparers may also manipulate income figures to qualify for fraudulent tax credits, such as the Earned Income Tax Credit.

In many situations, the taxpayer is not aware of the fraudulent tax preparation, but is still held responsible for the false return by the IRS.

While there are a great deal of reputable tax preparers, the IRS urges taxpayers to choose wisely in order to avoid additional taxes and penalties.

For helpful tips to avoid tax preparer fraud visit the Tropical Financial Credit Union website.