Taxes Behind Us, Hurricane Season Ahead, Vacation Season In-Between, Scams All Around
Don’t relax just because tax season is done.
While Tax Season for individuals may be over, businesses have quarterly deadlines and individual late filers live in a perpetual state of concern over taxes. Particularly those in the gig economy have to stay on their toes as the IRS keeps looking more and more closely at how they are being taxed. And, just as Airbnb hosts are gearing up for a busy summer, the IRS is issuing new taxation rules.
Everyone is hoping that this will be a hurricane-free season. However, the IRS has been publishing guidelines about how to keep important documents safe in the event of a natural disaster.
Meanwhile a new bill has been passed called The Filing Relief for Natural Disasters Act. This bill provides relief to struggling Americans by granting the IRS the authority to quickly postpone tax deadlines during state-declared emergencies instead of having to wait for a federal declared state of emergency.
On top of the pressure Americans feel between taxes and natural disasters, there’s the ever-present worry about being scammed.
The FCC recently issued a warning about “a new racket known as the One Ring phone scam that’s been escalating on smartphones throughout the country in the past few weeks.” They describe the way it works as follows, “A person will receive a phone call, most often originating from West Africa, but the caller will hang up after just one ring. The perpetrator may do this several times in a row. The idea is that the call recipient will be curious enough to call the number back. And in doing so, the victim will incur high toll charges similar to those associated with a 900 number.”
Summertime is usually a time to relax and set your worries aside.
Especially tax worries. I hope we can all get some much-needed relaxation despite this being the time when the scammers kick into high gear along with hurricane season. While you can relax, please stay alert and stay safe.