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AI Poised to Put Fake IRS Agents Out of a Job

Going Concern

Of all the occupations most at risk of being replaced by synths AI in the near future — bookkeepers, programmers, and washed-up accounting blog writers, to name a few — no one really talks about how ChatGPT, Bard, and Microsoft’s Bing AI (if you’re counting that one) will impact scammers. These guys: Satisfying.

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Friday Footnotes: Look What You Did, PwC; No Lakehouse This Year; India Wants Its Own Big 4 | 5.3.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. The PwC tax leaks matter exposed the fragmented nature of current regulatory settings.

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FTC Warns Taxpayers About Stimulus Fraud

PYMNTS

“While there’s a lot we don’t know, we do know a few things about what scammers do when this kind of uncertainty is in the headlines,” wrote by Jennifer Leach, associate director of FTC’s Division of Consumer and Business Education, on the agency’s blog. Consumers who spot a scam should contact the FTC at ftc.gov/complaint.

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Warning: New fraud targeting recruitment agencies has been brought to our attention by the FCSA

Churchill-Knight

This blog summarises the new scam and explains how it works. Umbrella company cloning was also identified – to trick recruitment agencies into making payments into the wrong bank accounts. The umbrella company pays the candidate with PAYE – which is common practice. The Churchill Knight Recruiters Blog.

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PPP Loan Fraud is Out of Control! Case Investigations & EIDL Fraud

LyfeAccounting

If you haven’t noticed, PPP loan fraud is becoming more and more common. Or why they think they can get away with lying about businesses and employees when there are so many ways to easily invalidate their loans such as: payroll taxes and. The Google search for PPP loan fraud is at an all-time high on Google Trends. But, here we are!

Florida 71
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Cryptocurrency Taxes: Don’t Sell Before You Read This!

LyfeAccounting

When it comes to investing in cryptocurrencies like Bitcoin and Euthereum, it’s common to think about the massive gains you can get. But, you should also consider the possibility of paying taxes when you sell your cryptocurrency. How Do Cryptocurrency Taxes Work? How Much Will You Pay in Cryptocurrency Taxes?

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Got an IRS Letter? Here’s What to Do

LyfeAccounting

Now, remember, this post is for informational purposes only, and by no means are we giving you legal or tax advice. They have a question about your tax return. Any ‘seemingly’ correspondence from the IRS via email or social media is NOT actually the IRS and is in fact a scam. Not every letter means you owe more taxes.