On September 24th, the IRS issued a press release warning financial institutions of scams designed to steal FATCA-related account data. Scam artists posing as the IRS have fraudulently requested Foreign Account Tax Compliance Act (FACTA) holder identity and financial account information. The press release emphasizes that the IRS does not require institutions to provide such data over the phone, by fax or via email. Nor does the IRS ever require FATCA registration passwords or other confidential account access information.
IRS Commissioner John Koskinen explains, “Tax scams using the IRS name can take many forms and they are not limited by national borders. People should always be cautious before sending sensitive information to anyone.”
Reports of such fraud have been reported in multiple countries and continents. Those targeted are financial institutions registered to comply with FATCA and those in jurisdictions required to uphold intergovernmental agreements (IGAs) to implement FATCA.
These types of fraudulent requests qualify as “phishing” scams, and anyone who suspects having been likewise approached are asked to report it to the Treasury Inspector General for Tax Administration (TIGTA) or through the TIGTA secure website. For more information, please visit the official IRS website.
Become an Official Tax Professional
Tax preparation is a lucrative business. Consider that first-time preparers submit tax forms for 50 clients, charging an average of $150 each. They make, roughly, $7500 working the 45 days before April 15th, and that’s before they have had much time to build a solid clientele. For many people, this represents 3 months of salary. That’s an appealing career path for many individuals.
Whether you want to earn a significant amount of money on the side or start your own full-time tax practice, you can appreciate the value of comprehensive tax preparation training.
The Professional Tax Preparer Program
UAC’s Professional Tax Preparer (PTP) program will enable you to become proficient in the completion of individual and business returns. The PTP provides you with the following:
- Convenient online training
- 20 hours of valuable video instruction
- Hands-on training in completing full individual (1040) and business returns (1065, 1120, 1120S)
- Step-by-step instruction in becoming a sole practitioner
- One year of follow-up support from expert tax preparers
- The opportunity to earn valuable professional certification
- Our iron-clad, risk-free guarantee
The Value of Tax Training
In today’s world of complex tax laws and increasing tax fraud occurrences, like the one described above, tax payers are looking for specialists with credentials. It affords clients peace of mind to know that the individual they’re working with is qualified and knowledgeable. It also affords the tax preparer peace of mind to know they’ve been properly trained. Universal recognizes the value of a professional designation and awards Professional Tax Preparer Certification to those who successfully pass the final exam with a score of 90% or higher.
The program is comprised of the following 4 modules with their corresponding topics:
- Module I establishing the Tax foundation
- Module II Becoming the 1040 Expert
- Module III Profitable Business Returns
- Module IV Building Your Successful Tax Practice
A Lucrative Investment
Acquiring tax preparation skills not only affords you the opportunity to earn upwards of $100 per hour, but it exposes you to a limitless potential client base. The fact that nearly every adult and business in the nation must report their tax liability on a yearly bases means that your tax preparation skills will be very appealing to a significant population. And as your practice grows, so will your income. Call Universal at 1-877-833-7908 to enroll now!
–. “IRS Warns Financial Institutions of Scams Designed to Steal FATCA-Related Account Data.” 24 September 2014 IRS.gov