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IRS Issues Urgent Warning About Social Media Tax Scams

September 15, 2025

The IRS reports that misleading social media posts and self-proclaimed "tax experts" have caused widespread confusion, resulting in over $162 million in penalties and more than 32,000 enforcement actions.

Recent Posts

Major 401(k) Tax Break For Certain Earners Is Coming To An EndSeptember 29, 2025 - 7:49 pm
The IRS has issued final regulations for a 2022 law, which will require high-earning workers aged 50 and up to make pre-tax catch-up contributions.
Florida Braces For Health Care Changes As Obamacare Tax Credits Set To ExpireSeptember 22, 2025 - 8:55 pm
Unless Congress steps in, the subsidies will end on December 31—leaving millions of Americans, and especially Floridians, in limbo.
IRS Issues Urgent Warning About Social Media Tax ScamsSeptember 15, 2025 - 7:28 pm
The IRS reports that misleading social media posts and self-proclaimed “tax experts” have caused widespread confusion, resulting in over $162 million in penalties and more than 32,000 enforcement actions.
Workers In 68 Jobs May Soon Be Exempt from Paying Taxes On Tips — Including Some Unexpected OnesSeptember 8, 2025 - 8:42 pm
According to the White House, the new ‘No Tax On Tips’ provision could save eligible workers around $1,300 per year. However, the value of the tax break may be limited depending on income, tip levels, and the nature of the job — particularly for those in roles not commonly associated with receiving tips.
Important IRS Update To The $7,500 EV Tax Credit DeadlineSeptember 1, 2025 - 9:18 pm
This adjustment will significantly ease pressure on buyers, manufacturers, and dealers by allowing more time for vehicle deliveries.
One Big Beautiful Bill Extends Many Business-Friendly Tax ProvisionsAugust 25, 2025 - 6:31 pm
The key provisions of the One Big Beautiful Bill Act could affect your tax planning strategy. While a few changes may increase tax liability for some, the overall impact is likely positive for many businesses.
New Gambling ‘Phantom Taxes’ Start In 2026 – What This Means For Your Winnings And Tax BurdenAugust 18, 2025 - 8:01 pm
Starting in 2026, thanks to a provision buried in the recently passed One Big Beautiful Bill Act, the amount of gambling losses you can deduct caps at 90%, down from the previous 100%. That means you could be taxed on income you never actually profited from — what critics are calling a “phantom tax.”
A Favorite Savings Tool Of Financial Advisers Gets Better With ‘One Big Beautiful Bill’August 11, 2025 - 6:38 pm
New provisions in the recently signed tax and spending law significantly expand HSA eligibility. The law allows more Affordable Care Act insurance plans, Direct Primary Care arrangements, and plans with telehealth coverage to qualify for HSA use—potentially opening the door for tens of millions of additional users.

Tag Archive for: irs warning

IRS Issues Urgent Warning About Social Media Tax Scams

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