1. Beware of Callers Claiming To Be From the IRS
According to the IRS, many individuals, especially immigrants, are the victims of a particularly aggressive telephone scam. This scam involves the caller claiming to be from the IRS. Potential victims are threatened with deportation, arrest, having their utilities shut off, and/or having their driver's license revoked. The callers are often insulting or hostile in an attempt to intimidate their victims into compliance. In most cases, the victims are told they owe money to the IRS that must be paid immediately to avoid the dire consequences noted above. In some cases, the victims are told that they are entitled to large tax refunds.
The scammers typically do one or more of the following:
This legislation is the latest Democratic effort to curb "corporate inversions". Republicans (as noted below) have criticized this approach, maintaining instead that the best deterrent to inversion transactions is a comprehensive overhaul of the corporate tax provisions in the Internal Revenue Code.
For additional information regarding this topic, please contact your local UHY Advisors professional.