Your anxieties make you an easy target. So do your beliefs that crises offer easy ways to make a quick profit.

Afraid of the risk of the stock market but unhappy with the near-zero rates offered by your bank? Well, I have good news for you: I can get you 7.5 percent returns guaranteed with no stock market risk, no commissions and no surrender fees. The minimum investment is $100,000 and this is limited availability –…

Read More...

Financial safety is an important part of disaster preparedness

Before a natural disaster strikes, taxpayers are encouraged to prepare, if possible. This includes developing evacuation plans, putting together kits of essential supplies and putting financial safety measures in place. To help protect their financial safety in a disaster situation, taxpayers should: Update emergency plans. A disaster can strike at any time. Personal and business situations…

Read More...

You Be the Judge

A Maryland couple filed their 2017 tax return but did not pay the tax due. By December 2018, they owed $1.1 million in unpaid taxes and interest. The couple asked the IRS for an installment plan to pay off their tax debt over six years. However, an IRS investigator discovered the couple had cryptocurrency accounts,…

Read More...

Dirty Dozen List of Tax Scams for 2020 – Part 2

Scams targeting non-English speakers: IRS impersonators and other scammers also target groups with limited English proficiency. These scams are often threatening in nature. Some scams also target those potentially receiving an Economic Impact Payment and request personal or financial information from the taxpayer. Phone scams pose a major threat to people with limited access to information,…

Read More...
Pederson Tax Services