Federal Tax, Tax

Increases to Tax Credit Claims This Tax Season

The IRS is reporting that this tax season it’s seeing an uptick of inflated refund claims centered around the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes. It stated that a series of tax scams and inaccurate social media advice has led to thousands of taxpayers claiming credits for which they’re not eligible. The specific credits in question are legitimate but they’re limited to specialized situations. The majority of taxpayers attempting to make these credit claims don’t qualify for them. Taxpayers may need to file amended tax returns to remove the improperly claimed credits. Contact us for more information or visit: https://bit.ly/4bmclaq. © 2024