A 'ghost tax preparer' is someone who isn't certified but still prepares tax returns.
FILE - An Internal Revenue Service 2023 1040 tax form and instructions are shown on Jan. 26, 2024 in New York. It's tax season in the U.S., and for many people, filing tax returns can be a daunting task that's often left until the last minute. According to the Better Business Bureau, a “ghost tax preparer” is someone who isn’t certified but still prepares tax returns.
They not only waste filers’ funds, but their schemes can cause serious problems in the long run, the BBB said.What these “ghost preparers” do is get everything ready for your tax return, but when they submit it to the IRS, they ask you to sign your own return, making it look like it was self-filed.Having you sign and file the return yourself is the ghost preparer’s way around the PTIN.
The BBB admits that this doesn’t seem like a big deal. So you’re taking the prepared files and mailing them to the IRS yourself? So what?Email AddressBut when something goes wrong, the preparer is nowhere to be found. And since your return was technically self-filed,are liable for any errors or omissions the ghost preparer made. That includes underpayment and negligence penalties, which happen often because the large refund the ghost preparer promised you wasn’t accurate in the first place.
By law, anyone who prepares or even assists with preparing federal tax returns for compensation must have a validSo how do you avoid falling victim to a “ghost preparer”?If someone promises quick refunds or big returns, be careful. Your return amount, deduction amount, or taxes owed are solely based on your past year’s tax information and the current tax laws. The time it will take to receive your refund or tax notice will depend entirely upon the IRS.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Travel Alert: Don't fall for fake vacation rental, booking sitesAvoid falling victim of a vacation scam with these tips from the BBB,
Read more »
BBB warns families impacted by tornadoes to be vigilant of storm chasersAs communities around Ohio work to clean up after severe weather swept through the state last week, some con artists may be lookingto take advantage of the dev
Read more »
BBB warns of scammers preying on basketball fans during March MadnessMarch Madness is back, and many are eager to fill out their brackets, but the Better Business Bureau is warning fans to be cautious of scammers looking to turn
Read more »
Expert advice on coping with Daylight Saving Time sleep lossThe return of daylight saving time means we spring forward this weekend, setting clocks an hour ahead and losing an hour of sleep.
Read more »
Demi Lovato Shares Their Best Beauty Advice and Worst Haircut — InterviewIn a new interview, Demi Lovato tells Allure about the injectables they've had done, their opinions on aging and gender, and what they think about all those Sephora teens.
Read more »
Joe Biden Zooms With Actor Presidents For Advice On State of the UnionJoe Biden is going all out to make sure his State of the Union address resonates with Americans ... 'cause he's taking tips from former Presidents -- albeit, fake ones!
Read more »