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How To Protect Yourself From Tax Refund Scams

The tax refund season is upon us, and that means scammers are out in force trying to trick unsuspecting taxpayers into giving up their hard-earned money. Here are some tips to help you protect yourself from tax refund scams.

First, be on the lookout for emails, texts, or other communications that claim to be from the IRS or a tax software provider like TurboTax, but are actually from scammers. These communications will often try to trick you into clicking on a link or opening an attachment that will install malware on your computer or mobile device. If you get an unsolicited communication that purports to be from the IRS, do not click on any links or open any attachments.

Another common tax scam is phishing, where scammers use fake emails or websites to try to trick you into disclosing your personal or financial information. They may even go so far as to create a fake IRS website that looks legitimate, but is actually just a way for them to steal your information.

To avoid falling for a phishing scam, never click on links or open attachments in unsolicited emails or texts. And be wary of any website that asks for personal or financial information. The IRS will never initiate contact with taxpayers via email, text, or social media to ask for personal or financial information.

If you get a call from someone claiming to be from the IRS, do not give them any personal or financial information. The IRS will never call you out of the blue to demand payment, and they will never threaten to arrest you if you donâ€t pay. If you get a call like this, hang up and report it to the Treasury Inspector General for Tax Administration at

1-800-366-4484.

Finally, be aware of scams that target specific groups of taxpayers. For example, there are scams that specifically target taxpayers who are owed a refund from the Earned Income Tax Credit or the Additional Child Tax Credit. These taxpayers should be on the lookout for fake emails or websites that claim to offer a tax refund in exchange for personal or financial information.

If you think youâ€ve been the victim of a tax scam, you should contact the IRS immediately. You can also report the scam to the Federal Trade Commission at

1-877-FTC-HELP.

By following these tips, you can help protect yourself from tax refund scams and keep your hard-earned money out of the hands of criminals.

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IRS Mileage Rate: Tips For Tracking Your Mileage

The IRS mileage rate is the standard mileage reimbursement rate for business travel. The rate is set by the IRS and is updated each year. The current mileage rate is $0.58 per mile.

If you use your personal vehicle for business travel, you can deduct the mileage on your taxes. You will need to keep track of your mileage, as well as your expenses, in order to claim the deduction.

Here are some tips for tracking your mileage:

– Keep a mileage log. This can be a simple notebook that you keep in your glove compartment. Whenever you use your vehicle for business travel, jot down the date, the starting odometer reading, the ending odometer reading, and the total miles driven.

– If you use your personal vehicle for both business and personal travel, make sure to keep track of the miles driven for each. This will help you calculate the deduction correctly.

– If you use your personal vehicle for business travel, you can deduct the actual expenses of operating the vehicle, such as gas, oil, repairs, and tires. You will need to keep receipts for these expenses.

– If you use your personal vehicle for business travel, you can also deduct the depreciation of the vehicle. This is calculated using a standard mileage rate.

– You can also deduct parking fees and tolls that you incur while traveling for business.

– If you use public transportation for business travel, you can deduct the cost of the transportation. This includes trains, buses, taxis, and airfare.

– You can also deduct the cost of lodging and meals while traveling for business.

Keep in mind that you can only deduct the business-related portion of your travel expenses. If you use your personal vehicle for both business and personal travel, you will need to divide the expenses between the two.

Also, keep in mind that you can only deduct the expenses that you actually incur. If you receive a per diem allowance from your employer, you can only deduct the actual expenses that you incur.

If you have any questions about the IRS mileage rate or how to track your mileage, you should consult with a tax professional.

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