Kathryn Dowd Lund, CPA

FYI....there is a huge scam going on currently. Someone will call you and say they are from the IRS and either the IRS is getting ready to file a lawsuit against you OR there is very pertinent information that they need to talk to you about. It is as I said - a SCAM. The IRS will NEVER call you (or email you).

Today's tax tip.... Beware of Fake IRS Emails and Phone Calls Tax scams that use email and phone calls that appear to come from the IRS are common these days. These scams often use the IRS name and logo or fake websites that look real.... Scammers often send an email or call to lure victims to give up their personal and financial information. The crooks then use this information to commit identity theft or steal your money. Some call their victims to demand payment on a pre-paid debit card or by wire transfer. But the IRS will not initiate contact with you to ask for this information by phone or email. If you get this type of ‘phishing’ email, the IRS offers this advice: Don’t reply to the message. Don’t open any attachments or click on any links. They may have malicious code that will infect your computer. Don’t give out your personal or financial information. Forward the email to [email protected]. Then delete it. If you get an unexpected phone call from someone claiming to be from the IRS: Ask for a call back number and an employee badge number. If you think you may owe taxes, call the IRS at 800-829-1040. IRS employees can help you. If you don’t owe taxes or have no reason to think that you do, call the Treasury Inspector General for Tax Administration at 800-366-4484 to report the incident. You should also report it to the Federal Trade Commission by using their FTC Complaint Assistant on FTC.gov. Please add "IRS Telephone Scam" to the comments of your complaint. Be alert to scams that use the IRS as a lure. The IRS will not initiate contact with you through social media or text to ask for your personal or financial information.

Today's tax tip..... Eight Tax Savers for Parents Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this year.... 1. Dependents. In most cases, you can claim your child as a dependent. This applies even if your child was born anytime in 2013. For more details, see Publication 501, Exemptions, Standard Deduction and Filing Information. 2. Child Tax Credit. You may be able to claim the Child Tax Credit for each of your qualifying children under the age of 17 at the end of 2013. The maximum credit is $1,000 per child. If you get less than the full amount of the credit, you may be eligible for the Additional Child Tax Credit. For more about both credits, see the instructions for Schedule 8812, Child Tax Credit, and Publication 972, Child Tax Credit. 3. Child and Dependent Care Credit. You may be able to claim this credit if you paid someone to care for one or more qualifying persons. Your dependent child or children under age 13 are among those who are qualified. You must have paid for care so you could work or look for work. For more, see Publication 503, Child and Dependent Care Expenses. 4. Earned Income Tax Credit. If you worked but earned less than $51,567 last year, you may qualify for EITC. If you have three qualifying children, you may get up to $6,044 as EITC when you file and claim it on your tax return. Use the EITC Assistant tool at IRS.gov to find out if you qualify or see Publication 596, Earned Income Tax Credit. 5. Adoption Credit. You may be able to claim a tax credit for certain expenses you paid to adopt a child. For details, see the instructions for Form 8839, Qualified Adoption Expenses. 6. Higher education credits. If you paid for higher education for yourself or an immediate family member, you may qualify for either of two education tax credits. Both the American Opportunity Credit and the Lifetime Learning Credit may reduce the amount of tax you owe. If the American Opportunity Credit is more than the tax you owe, you could be eligible for a refund of up to $1,000. See Publication 970, Tax Benefits for Education. 7. Student loan interest. You may be able to deduct interest you paid on a qualified student loan, even if you don’t itemize deductions on your tax return. For more information, see Publication 970. 8. Self-employed health insurance deduction. If you were self-employed and paid for health insurance, you may be able to deduct premiums you paid to cover your child under the Affordable Care Act. It applies to children under age 27 at the end of the year, even if not your dependent. See Notice 2010-38 for information.

Here is a little "tax tip" for the day. I'm going to try to offer many for those who are interested...... Report Name Change before You File Taxes Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS.... This is important because the name on your tax return must match SSA records. If they don’t, you’re likely to get a letter from the IRS about the mismatch. And if you expect a refund, this may delay when you’ll get it. Be sure to contact SSA if: You got married or divorced and you changed your name. A dependent you claim had a name change. For example, this would apply if you adopted a child and that child’s last name changed. File Form SS-5, Application for a Social Security Card, with the SSA to let them know about a name change. You can get the form on SSA.gov by calling 800-772-1213 or at an SSA office. You can file Form SS-5 at an SSA office or by mail. Your new card will have the same SSN as before but will show your new name. If you have an adopted child who does not have a SSN, use a temporary Adoption Taxpayer Identification Number on your tax form. You can apply for an ATIN by filing Form W-7A, Application for Taxpayer Identification Number for Pending U.S. Adoptions, with the IRS. Get the form on IRS.gov or by calling 800-TAX-FORM (800-829-3676). IRS YouTube Videos: Changed Your Name After Marriage or Divorce? - English | Spanish | ASL IRS Podcasts: Changed Your Name After Marriage or Divorce? English | Spanish

Today is tax deadline day! Yea!!!! I hope all my fb friends got their tax returns done or at least extensions filed!!

Thank you all so much for 'liking' my page! I'll do my best to share some helpful tips for the upcoming tax season. :)