Never mind if the time changes , so are the governments with polices . But what if when economy is tough ,and when people find ways to keep their money safe . They plan investment, they approach banks , they apply for loans ,but they are certainly on back foot when scammed or fall victim to any frauds .
Certainly when there is tax season scam artists are more active in their business. They would not lag behind to take every advantage of tax scheme declared by government or sometimes even by any reputed financial or investment firm .
Con artists would only play the game of hide and seek , further defrauding the people expertly.
Internet is the best source through which they can hook the people , by pumping fake emails in the name of reputed government agencies.
But how to avoid some of the common tax scam is the big question ,Therefore we’ll discuss some of the top tax scams which are going strong these days , by going through you can certainly make yourself safe.
-Fraud or Fake Websites : ( Scam artists always try to used the name of reputed government website like IRS or sometimes BBB to scam the people . In fact the officials websites are www.irs.gov and www.bbb.org
-Email Scams : As an Alert cyber citizen , avoid clicking to any email attachment sponsored in your in box. Because scam artists can target your personal information, can ask to to click the link proceeding to you towards fake IRS site or even phishing site which can hijack your personal information.
-Bogus Tax Forms : IRS has already warned the tax payers that scammers can sponsor fake tax form through email attachment in the name of any legal organization ,which request your financial information like ATM PINS ,Credit Card Numbers, thus all in name of getting refunds .
-Fake Home Businesses : Tax scam artists can pursue with adds pertaining for work-at-home business which claims false benefit of deductions by converting them to legal business . But these are all scams tactics to lure the people as IRS will still hold you responsible for the taxes you didn’t pay, and interest on those taxes when they uncover your illegal tax avoidance.
-Tax Debt Settlement Scams :Scam artists mostly target the people who oew large debts to the IRS . The crime artists claim that they can settle these debts for pennies on the dollar. Most of these scammers take advantage of designing an offer in compromise (OIC) .Mostly IRS Accepts this proposal in case of only worst financial hardship .
Source : newschannel5.com
John McEnroe former tennis lover , was reported to have lost $88 millions in art investment scam which was unwrapped in Newyork . The scam successfully swindled major investment firms ,with bank of America ,investment firms and other art owners.
The wild scam was designed by the art dealer Lawrence Salander who is under grip of Newyork police. Newyork court officials charged Lawrence Salander 100 counts, including grand larceny and securities fraud according to Manhattan District Attorney Robert Morgenthau told a news conference.
Morgenthau confirmed ,fraudulent scheme was designed to tricked the investors who paid cash in exchange for shares of ownership of works of art.
Infact Salander framed the scheme by selling artwork not owned by him and baited the investment money in fallacious investment opportunities.
Salander boosted the price of paintings to gain greater investments which were never returned to investors.
McEnroe, who was scammed by $2 million after investing a half share in two paintings,was unable to recover his investment .
Renaissance Art Investors were duped of $45 million and Earl Davis, the son of American painter Stuart Davis, lost $6.7 million, and Bank of America lost $2 million .
source : .tennis-x.com
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