Category: Scam
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Theft of Service Concern Increased by PayPal Policy
I am increasingly concerned about theft of services where a buyer makes a claim that the vendor cannot disprove. This statement comes from PayPal’s most recent change of Policy Updates page update this month:“We are revising the User Agreement to indicate the payment a seller receives from a buyer may be invalidated and reversed if…
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Understanding cryptocurrency fraud
Cryptocurrency fraud falls into two main categories: Scams soliciting investment Theft of accounts The number of cryptocurrency scams is decreasing as people become more suspicious of unsolicited offers. This seems like a natural reaction to the publication of fraud risks. But the number of security breaches and account thefts is increasing sharply. Even sophisticated owners…
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Significant small business tax news: Alliantgroup
IRS sent subpoenas to CPAs who referred clients to a tax shelter seller Alliantgroup regarding R&D tax credits, cost segregation, and IRC Sec 179D, (all are aggressive tax strategies) taken by their business clients from January 1, 2011 to present. The IRS subpoena reportedly clarifies that Alliantgroup and not the individual business taxpayers who took…
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CARES Act triggers online and telephone scams
Please be aware of the increase in scams related to the CARES Act Programs. The Small Business Administration, Internal Revenue Service and U.S. Department of the Treasury will NOT CONTACT ANYONE DIRECTLY related to the various relief programs. In addition, bank employees will never ask for your social security number or other sensitive information via…
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Security enhancements during tax season
Avoiding the usual scams: Tax-related scams this year have risen to a level I’ve not experienced before in more than 4 decades of practice. Tax preparers are among the most targeted group. The defenses tend to require low tech personal attention. EMAIL – We observe that most (I read 85%) of scams begin with email.…
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I will not be silent on Trump fraud and cruelty in South Jersey
“What hurts the victim most is not the cruelty of the oppressor, but the silence of the bystander” – Elie Wiesel I personally saw the cruelty, greed and crimes of Donald Trump ruin families who were my neighbors in the Atlantic City area more than two decades ago. As president of a nearby chapter of…
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Unwanted robo calls from TripAdvisor
I’ve received and blocked so many unwanted robo calls from TripAdvisor and others recently that it seems unrealistic that they could possibly be calling from so many different numbers. I’ve likely blocked close to 50 numbers based on calls in the past two months; almost one per day. I decided that beginning today I will…
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The ‘dumbing down’ of the accounting industry
I’ve become more concerned with the ‘dumbing down’ of sectors of the accounting industry. Hardly a day goes by when I’m not solicited with advertisements about how to become a millionaire running an accounting practice without any accounting skills. Likewise my online group for tax advisers and planners is swamped with requests from people who…
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Collapse of the democratic rulemaking process
Never in our lifetime has the will of the people mattered less than this month. We know that over 75% of Americans oppose the tax bill being pushed by a small group of Republican oligarchs. Today the federal government repealed net neutrality rules that, as far as we can tell, is an action opposed by…