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Tax Preparers Conduct Clean Energy Tax Credit Scams For Financial Gain, Industry Group Says
The Internal Revenue Service has warned taxpayers against “unscrupulous” tax preparers carrying out clean energy tax credit scams.
The ruse occurs when tax preparers illegally give taxpayers tax credits to which they are not entitled.
“Unscrupulous (or misinformed) tax preparers may exploit taxpayers for financial gain by charging fees for falsely claiming tax credits,” Tom O’Saben, the National Association of Tax Preparers’ director of tax content and government relations, told Benzinga.
“They might promise larger refunds or reduced tax liabilities, thereby attracting more clients and increasing theirrevenue,” he said. “Additionally, they may inappropriately base their fee as a percentage of the refund they are calculating.”
The tax preparers ...