"What is IRS Warning about Telephone Scammers ?"

IRS Warns people today that Phone Scam is rampant and is targeted towards Taxpayers including recent Immigrants through out the country.

Victims are told they owe money to IRS and must be paid promptly with Debit Card or wire Transfer.  If the victim refuses to cooperate then they are threatened with arrest, deportation, or suspension business or Drivers License. In many case the caller becomes hostile or insulting.

Rest Assured, IRS never asks for Credit Card or Debit Card Numbers, nor do they send Emails or Voice messages.  Sometimes Scammers use  Common Fake Names and Surnames, and IRS Badge Numbers. Sometimes Fakers recite the Last four digits Of Social Security Number.  Scammers also make it looks like IRS Toll free number.  Threat is also followed by fake IRS like calls threatening jail time if payment is not made.

If you get such calls call IRS at 1 800 829 1040, if there is payment issue.  Remember IRS uses US Mail Service for their correspondence. They do not make threatening calls nor demand Immediate payment and jail time.  So, Beware Scammers  your Gig is up and cover is blown...

For More Information or Q & A Contact : 
Kash, @ (925) 963 4891

Yajnik & Mehta Associates  (YMA) 
Facebook : www.facebook.com/yma.taxpro
Twitter :     http://twitter.com/kash_yajnik
Linked-In URL:
http://www.linkedin.com/company/3246905?trk=tyah&trkInfo=tas%3Ayajnik%20and%20mehta%2Cidx%3A1-1-1

" What Estimated Taxes Should the Sole Proprietors Pay ? "

Our Tax system is based upon " Pay as you go basis " i.e. Tax payer is supposed to pay 90% of the Tax liability as the tax year progresses. Generally, Self Employed Businesses will make Quarterly Tax Payments based upon prior year Revenue.

Catch:  What if the current year income is More / Less than prior year income by a wide margin?  There may be April Surprise for the Tax payer...

Solution:  Meet with your Tax professional to verify that Correct amount Quarterly Estimated Taxes are paid to avoid the April Surprise.

For More Information or Q & A Contact : 
Kash, @ (925) 963 4891

Yajnik & Mehta Associates  (YMA) 
Facebook : www.facebook.com/yma.taxpro
Twitter :     http://twitter.com/kash_yajnik
Linked-In URL:
http://www.linkedin.com/company/3246905?trk=tyah&trkInfo=tas%3Ayajnik%20and%20mehta%2Cidx%3A1-1-1