Top accountant Pauline Ho founder of Laus Consulting Services LLC in Orlando, FL warns business owners to stay alert during tax season against fraudulent preparers promising large refunds. For more information please visit https://lausconsult.com
-- Florida-based Corporate Accountant Pauline Ho, of Orlando's Laus Consulting Services LLC, has issued a renewed warning to business owners about the growing threat of tax preparer fraud, urging them to remain alert during tax filing season.
For more information please visit https://lausconsult.com/
"Fraudsters are out in force, offering the promise of substantial refunds from IRS filings, but their schemes are often just as fraudulent as their claims," said Ho.
Ho emphasized that tax season is a prime time for scams, as con artists exploit the complexities of tax regulations and the anxieties many feel about filing. She noted that some tax preparers promise large refunds but engage in fraudulent practices, leaving clients liable for penalties if the IRS uncovers discrepancies.
The consequences of falling prey to such schemes can be severe. While U.S. courts are actively pursuing and penalizing fraudulent preparers, many business owners still find themselves at risk. According to Ho, the temptation to underreport or manipulate numbers might seem appealing, but the repercussions far outweigh any short-term gains. The IRS’s sophisticated systems can easily flag discrepancies, and when they do, it’s the taxpayer—not the fraudster—who pays the price.
Ho warned of several signs to look out for when choosing a tax preparer. Preparers who promise outsized refunds or work on a commission tied to the refund amount often engage in unethical practices. Others may inflate deductions, such as charitable contributions, or even fabricate information on returns to maximize refunds. These actions can lead to significant financial penalties for the taxpayer if discovered.
She advised business owners to be cautious and take proactive steps to verify a preparer’s credentials. Checking a preparer’s Preparer Tax Identification Number (PTIN) in the IRS directory is a good first step, though Ho emphasized that being listed isn’t an endorsement of a preparer’s qualifications or ethics.
‘’Temporary tax preparers, often operating from short-term locations, pose another risk. Once tax season ends, these individuals frequently disappear, leaving clients vulnerable if the IRS flags issues later’’, Ho said.
Ho also stressed the importance of ensuring that preparers sign tax returns and provide their PTIN, as required by law. Taxpayers should review their returns thoroughly before signing to ensure all information is accurate and supported by proper documentation. "Once you sign your tax return, you’re accepting full responsibility for its contents," she explained.
For those uncertain about their tax filings, Ho encouraged consulting a professional tax accountant for guidance. A qualified accountant can help clients remain compliant, avoid unnecessary risks, and ensure peace of mind throughout the tax process.
By staying informed and vigilant, business owners can protect themselves against tax preparer fraud and navigate tax season with confidence.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
Phone: 407-401-9768
Website: https://lausconsult.com
Release ID: 89147250
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