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IRS Warns Against Misleading Social Media Tax Advice

Taxpayers are urged to consult trusted professionals to avoid scams related to false credits.

The U.S. Flag flys above the International Revenue Service headquarters building on January 3, 2024, in Washington, D.C. The agency warned taxpayers not to fall for false information on social media.
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Overview

  • The IRS has issued a warning about false claims of a 'Self Employment Tax Credit' circulating on social media.
  • These misleading claims promise large refunds for self-employed and gig workers during the COVID-19 period.
  • The legitimate credits for sick and family leave are limited and only available for specific circumstances in 2020 and 2021.
  • Taxpayers are advised to rely on professional tax advice rather than social media for accurate information.
  • The IRS is closely reviewing claims and warns that fraudulent filings can lead to significant tax liabilities.