Scam artists have dusted off an old scheme and added a new kink in an effort to swindle taxpayers out of money. This new effort uses a faked version of the IRS Form W-8BEN to get detailed personal identification and bank account information from its victims.
As part of the Small Business Week program, the IRS last week addressed ways businesses could protect against a recurring identity-theft scheme: using stolen EINs to file business, partnership, and estate and trust tax returns.
We're a few weeks removed from tax season, so we wanted to hear what tax professionals thought about the latest iteration of the January-to-April annual grind. Joining us on the podcast are two EAs: the owner of AVL Tax Professionals in Asheville, NC, Jim Lowe, and the owner of Tropical Tax Solutions in the Florida Keys, Jerry Gaddis.