With an extended fraud alert, a lender or creditor is required to verify your identity in person or by phone at a number you provide before opening new accounts or making changes to existing accounts. Business Email Compromise or BEC scams have emerged as a major source of financial loss for businesses of all sizes, estimated at over $12 billion through 2018. Also known as an Business Email Impersonation, an employee gets an email from someone claiming to be a trusted person or organization requesting an urgent transfer of funds to a fraudulent account number or an urgent request for sensitive information. Was it the actual customer who initiated the request? How can companies prevent customer commercial identity theft systems fraud? Revising the Board of Revision of Taxes, How Can Asking Questions Improve Tax and Spending Policies? This Just Taxes My Brain, Tax Bureaucrats Lose Work, Keep Pay, Testing Tax Bureaucrats Just Part of the Solution, A Citizen Vote on Taxes, Freezing Real Property Tax Reassessments: A Nice Idea, The Tax Price of a Flawed Tax System, Can Bad Tax Administration Doom the Tax? It doesn’t resonate with those of us who can see through the ploy. The clincher is the claim by «Isabella Charlotte» to represent «IRS Public Relations.»So who is responsible for ridding the planet of this behavior, and curtailing the activities of those who engage in these counterproductive enterprises?
A probe into fraudulent expense charges in the State of California’s Department of Public Health began with an investigation into a shredded Disneyland itinerary. Putting aside the question of increased government spending, why not allocate $500 million to the Department of Energy and tell it to administer this program? Government? Which ones? The private sector? It might sound fanciful to argue that the password is obsolete, but plenty of analysts have done so, and even the US government is seeking an alternative to passwords. That might resonate with people who don’t understand that reduced revenue, whether through credits or otherwise, and increased spending have the same effect on the budget deficit. I’m referring to people whose intelligence and cleverness could accomplish much to benefit society, but who choose to use their talents to do evil. And who pays?I wonder how much more prosperous the economies of every nation could be if this sort of behavior could be stamped out. The other pays real estate taxes of $3,500. Taxes and Priorities, R.I.P., BRT, A Tax Agency Rises from the Dead, and Tax Law as Subterfuge: Best Use Valuation v. Current Market Valuation, How to Kill a Bad Tax System That Will Not Die?
One pays real estate taxes of $1,500. Who pays? The funneling of resources that could be used for more productive endeavors into the prevention of, and punishment for, fraudulent activity is a sad commentary on the failure of the species to make better progress. I daresay that the legislators who introduced this bill did not write it, and if compelled to hazard a guess, I’d put this language in the hands of lobbyists.Not only would this legislation require the IRS to jettison revenue officers so that it could hire chemical engineers, it also would require the IRS to fire even more revenue agents so that it could hire more economists and scientists. Real Property Tax Assessment System: Broken and Begging for Repair, Philadelphia Real Property Taxes: Pay Up or Lose It, How to Fix a Broken Tax System: Speed It Up? It’s not professional tax terminology. But, speaking of ploys, it’s an election year, and the introduction of this bill might be nothing more than a sop to some campaign contributors.The second development was a GAO report, Energy Conservation and Climate Change: Factors to Consider in the Design of the Nonbusiness Energy Property Credit, that explores the possibility of changing the section 25C nonbusiness energy property credit to one that is calculated using performance-based standards rather than simply the cost of the improvement incurred by the taxpayer.
The answer, of course, is all sorts of nonsense about how the tax law is the better vehicle for accomplishing the purposes of the spending program, but the true answer is that it’s simply a way to spend money without disclosing the expenditure. The other day I received an email with the subject line «RE: Tax Exemption Notification» from a person using the name Isabella Charlotte. Grammatically confusing sentences. Absurd email address. In the body of the email was a purported IRS logo, and a letter that began, «Sir/Madam, Our records indicate that you are a Non-resident.» Really? Of course, at that point I knew the letter was a scam, a product of a twisted and devious mind, but I kept reading.The letter continued, «As a result you are exempted from United States of America Tax reporting and withholdings. » Even if I had not yet concluded that the letter was a scam, that phraseology would seal the deal. Again, it comes down to education, combined with careful monitoring of those who lack or lost the capacity to deal with these sorts of scams. And again, who is responsible? Perhaps «Isabella Charlotte» doctored up a more sophisticated scam in an effort to avoid being linked to the originator of this particular phishing attempt.