The IRS said it has found thousands of dubious claims sharing common themes.Many of the claims involve the fuel tax credit, the sick and family leave credit, and household employment taxes.But taxpayers with false or frivolous claims risk a penalty of up to $5,000 per tax return, an audit or even potential criminal prosecution, the IRS warned.
Misinformation on social media leads more taxpayers to think they qualify for something when they really don't, he said. The fuel tax credit, for example, is for farm machinery or vehicles a person operates on a business site.The sick and family leave credit was available for self-employed people for 2020 and 2021 but not for 2023 tax returns. And the IRS said it appears some taxpayers incorrectly claimed the credit based on income earned as an employee and not as a self-employed person.
Tax Scams Tax Credits Fraudulent Claims Social Media Taxpayers Penalties Misinformation
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