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Don’t be a Victim: Avoid being Scammed Online!

Tax season is just around the corner, and unfortunately, so are the scammers. These cybercrooks are out to steal your identity, drain your bank account, and maybe even file a tax return in your name. The results? Lost money, a wrecked credit score, financial chaos, and hours of your life spent trying to fix the mess.

The best defense? Don’t take the bait. Scammers will come at you through email, mail, and even phone calls, trying to scare or trick you into giving up your personal information. Here’s what you need to know to stay one step ahead of them.

📌 Steps to Protect Yourself:

✅ Stay vigilant and skeptical. Never open a link or attachment from an unknown or suspicious source. Even if the email looks legit, be cautious—cybercrooks are pros at mimicking trusted businesses, friends, and even the IRS.
✅ Remember, the IRS doesn’t contact you through email. If you get an email claiming to be from the IRS or directing you to a website, don’t click. The IRS doesn’t ask for sensitive information like Social Security numbers, PINs, or credit card details via email, text, or social media. If you receive such a message, contact us before doing anything.
✅ Double-check email addresses. Scammers often spoof email addresses by making small changes. What looks like a message from a friend or company could actually be from a cybercriminal using a similar, but fake, address.
✅ The IRS won’t call to threaten you. If you receive a call from someone claiming to be the IRS and demanding immediate payment or threatening legal action, hang up. The IRS doesn’t operate this way, and they certainly don’t ask for payment via gift cards.
✅ Don’t click on suspicious links. Legitimate companies won’t ask you to update sensitive information through an email link. When in doubt, delete the email and contact the company directly.
✅ Use strong passwords and security software. Keep your online accounts secure with strong, unique passwords and up-to-date security software. Some security tools can even flag suspicious websites before you get scammed.
✅ Use multi-factor authentication. Two-factor authentication adds an extra layer of protection by requiring a second step to verify your identity, usually a code sent to your phone. Even if someone gets your password, they’ll be blocked without the code.
✅ Contact us before responding to any IRS communication. If you receive a letter, call, or fax from the IRS, reach out to us before sharing any information. We can help verify if it’s legitimate.
✅ Educate the elderly. Scammers often target older adults, so make sure your elderly loved ones know how to spot phishing scams and other cyber threats.
✅ “Too good to be true” scams. Scammers might try to trick you by claiming you’ve won a foreign lottery or inherited money from abroad. If something sounds too good to be true, it probably is.

Report Phishing Scams:

If you come across a suspicious email, you can help combat cybercrime by forwarding it to phishing@irs.gov. Every little bit helps in the fight against these cybercrooks.

Find Licensed CPA Firm Near Me

Managing your finances, especially during tax season, is no small task—it’s a job that demands expert guidance. At Insogna CPA, we get it. We’re here to help you navigate the financial maze with the accountability and expertise you deserve. Headquartered in Austin, TX, we proudly serve clients nationwide. Choosing a state-licensed CPA firm isn’t just a smart move; it’s essential to safeguarding your financial future and ensuring you receive the highest level of care, as mandated by the state board.

💡 Investing in Expertise: Why CPAs Are Worth Every Penny

CPAs may charge more, but that’s because their specialized expertise is invaluable. Think of it as an investment in peace of mind. With a CPA, you can rest easy knowing your finances are accurate, secure, and fully compliant.

The Risks of Unlicensed Preparers: Don’t Gamble with Your Finances
Choosing to work with an unlicensed preparer comes with serious risks—errors, fines, back taxes, even audits. Whether you’re an individual or running a business in Austin or anywhere in the U.S., opting for a certified CPA firm is not just a choice—it’s a necessity.

💡 Spotting Fraudulent Operators: Protect Yourself

It’s essential to differentiate between licensed CPA professionals and unlicensed operators. Always verify credentials through your State Board of Accountancy to ensure you’re working with a legitimate CPA firm.

Taking Action Against Fraud: Your Rights
If an unlicensed bookkeeper or tax preparer messes up your return, you’re left without much recourse. Filing a complaint is tough. That’s why working with a licensed CPA, like Insogna, offers the protection you deserve, along with the expertise you need to safeguard your finances.

Ready to Secure Your Financial Future?

Let us help you navigate the complexities of taxes and accounting with ease. Contact Insogna CPA today, and get the expertise you need to stay financially secure in 2024 and beyond. Don’t wait—your peace of mind is just a call away!

A Government Shutdown Isn’t Going to Save You from an IRS Audit

Yes, it’s true that we’ve come through some of the longest government shutdowns in U.S. history, and it may take government agencies – including the Internal Revenue Service – some time to catch up. But if you think this means your chances of being audited are lower than ever, you might want to reconsider.

In 2016, the IRS audited about 0.6% of individual tax returns—roughly 1 in 160 taxpayers got that unwelcome letter. Expand the definition of an audit to include notices asking for backup documentation or to re-examine your taxes, and that number jumps to around 6.2%, or 1 in 16.

So, while a government shutdown might slow things down, it won’t stop the IRS audit train. Here are a few common IRS audit red flags to be aware of as tax season approaches in 2024.

⚠️ The Dreaded Math Errors

A lot of people don’t realize just how much of the IRS’s own processes are automated. When you file your income tax return, that information gets entered into a computer, and a lot of the processing is done before a human ever looks at it — if one ever comes into contact with your return at all.

Therefore, one of the major red flags that will certainly trigger an audit are math errors, because a computer doesn’t care whether the government was shut down or not. A math error is a math error, and if you make one (or multiple), it’ll send up a red flag within the IRS’s system, and an automated notice will likely be issued as a result.

❓ How You Make Your Money

The people who work for the IRS aren’t amateurs; they know that certain types of industries feature more instances of unreported cash earnings than others. This is why another one of the major red flags that could see you on the receiving end of an IRS audit has to do with the industry you’re operating in to begin with.

If you work in the restaurant industry where cash tips are common, for example, you are probably always going to garner more attention from IRS professionals than someone who may have a more rigid salary. Simply being a part of these types of industries automatically raises your odds of being audited, and no government shutdown is going to change that.

🪙 Earned Income Tax Credit Audits

Did you know that taxpayers who claim the Earned Income Tax Credit are twice as likely to be audited? That’s because some people claim this credit when they don’t qualify, which costs the government billions. If you’re entitled to the credit, you’ve got nothing to worry about—just make sure your paperwork is in order.

💸 Large Charitable Contributions

Charitable donations are wonderful, but if they’re disproportionate to your income, they’ll raise a red flag with the IRS. The IRS knows how much people typically donate based on their income bracket. While lumping several years of donations into one year might seem like a good idea, it can attract attention. Make sure you have all the documentation to back it up.

Feeling a little anxious about tax season in 2024?

An IRS audit isn’t necessarily a bad thing—especially if your records are thorough and accurate. But don’t assume that a government shutdown means your chances of being audited are slim. Tax season waits for no one, and neither does the IRS. Make sure your return is solid before filing this year.

We’ve got your back. Whether it’s avoiding common audit triggers or navigating IRS notices, our expert team is here to help you cross every T and dot every I. Contact us today for personalized tax advice, so you can file with confidence!

No Hidden CPA Fees: Financial Transparency for 2024

Say goodbye to surprise bills and hidden charges! At Insogna CPA, we’re all about clear, upfront pricing—because your financial peace of mind shouldn’t come with a question mark.

Transparent Pricing: A Breath of Fresh Air

Surprises are fun, but not when they show up on your CPA invoice. At Insogna CPA, we get it—hidden fees and mystery expenses are frustrating. That’s why we’re committed to offering transparent pricing for all your accounting and tax needs.

No More Guessing: What You See is What You Pay

Picture this: instead of crossing your fingers every time an invoice arrives, you can finally breathe easy, knowing exactly what you’re paying each month. Whether it’s a flat fee for tax services or ongoing business support, you’ll know upfront. Our flat-rate pricing eliminates hidden fees and keeps your budget stress-free.

Simple, Predictable Pricing for Total Clarity

We like to keep things straightforward. Unlike firms that hit you with unpredictable hourly charges, we offer a customized plan tailored to cover all your yearly CPA needs. From payroll and sales tax to virtual controller and fractional CFO services, everything is bundled into one fixed monthly fee under a 12-month agreement. It’s your one-stop shop for financial clarity.

Our clients love the peace of mind that comes with knowing their costs upfront—no more surprises or random hikes in expenses. Our clear, predictable pricing lets you focus on what matters most: growing your business and achieving your financial goals.

Take Control of Your Financial Future

It’s time to ditch the surprise fees and embrace financial transparency. Whether you’re a small business owner needing comprehensive CPA services or an individual looking for personal tax help, we’ve got you covered. Let us take the guesswork out of your monthly accounting costs, so you can focus on what you do best.

Ready to Simplify Your Finances?

At Insogna CPA, your financial clarity is our top priority. Reach out today and discover how our transparent pricing can bring more predictability (and peace) into your life. You deserve to know exactly what you’re paying—no surprises, no stress. Let’s make 2024 the year you take full control of your finances!

What Is an EIN and Does Your Business Need One?

Entrepreneurs often shrug off the idea of getting an Employer Identification Number (EIN), thinking their small business doesn’t really need one. Sure, if you’re flying solo, you might get away with using your Social Security Number (SSN) for a while—but trust me, it’s not the best long-term strategy, even if hiring employees isn’t on your radar yet. In most cases, having an EIN is not just a good idea; it’s a must. It provides key benefits beyond just payroll setup.

💡 Protect Your Personal Information with an EIN

One of the top perks of an EIN is safeguarding your personal identity. While you still need to protect your EIN and only share it when absolutely necessary, using it for your business means your personal details stay more secure.

Government forms and official documents require an identifier, and the EIN (issued by the IRS) can be used in place of your Social Security Number. Sure, identity theft is still a concern if your EIN gets stolen, but the information tied to it is far less sensitive than what’s connected to your SSN. Bottom line: fewer risks, more peace of mind.

❓ Incorporating Your Business? An EIN is Non-Negotiable

If you’re incorporating your business (or planning to), your business becomes its own entity. That means it needs its own form of identification, especially if you plan to hire employees—even if you’re the only employee for now.

You’ll still need to pay yourself a salary, which means dealing with payroll taxes and following IRS guidelines. This applies whether you’re forming a corporation, LLC, or partnership—you can’t just use your SSN for official filings.

💡 The EIN Does More Than Payroll

An EIN comes with long-term benefits that go way beyond just payroll. You’ll need it to open business bank accounts, apply for business credit, and even set up retirement plans like pensions or profit-sharing. Whether you’re running a general partnership, LLC, S-corp, or sole proprietorship, the EIN will play a role in critical business operations. And let’s face it, using an EIN instead of your SSN for your business is just smart, plain and simple.

Every business is unique, and while we strongly recommend securing an EIN, we understand it might not be necessary for everyone. Have questions about how an EIN applies to your specific situation? Let’s chat and make sure you’re making the right decision for your business today.

Not sure if an EIN is right for your business?

Give us a call, and we’ll help you navigate the process. In 2024, having the right tools in place can make all the difference—so why not get started on the right foot? Reach out today!

What Is The Difference Between A Lien And A Levy?

If you’re reading this, there’s a good chance you’ve received one of those dreaded notices from the IRS. Interaction with the Internal Revenue Service is pretty common—especially during tax season. But if you’ve been notified of an IRS tax lien or levy, things just got a whole lot more serious.

The most important thing to do right now? Stay calm. Yes, these notices mean your financial life just took a turn for the complicated, but you have rights—important ones—that are worth protecting.

❓ What Is an IRS Tax Lien?

An IRS tax lien is a very specific type of claim that the government (in this case, the Internal Revenue Service) makes on your property. That property can include but is not limited to real estate and other types of assets. Typically, this is something that occurs when you’re past due on your income taxes and you’ve failed to make proper arrangements to get yourself back up to date again.

A tax lien can affect you in a number of different ways, all of which are less than ideal. Even though tax liens no longer appear on your credit report, your credit rating will still suffer ‒ thus harming your ability to get a loan or secure new credit for your business. Tax liens also usually appear during title searches, which can impact your ability to sell your house or refinance the mortgage you already have.

❓ What Is an IRS Tax Levy?

A tax lien is essentially the first part of a two-step process. That second step takes the form of a tax levy, which involves the actual seizure of the property in question in an effort to pay the tax money you owe. Via a tax levy, the IRS can do everything from garnish your wages, seize assets like real estate or even take control of your bank accounts to get their money.

At the very least, you’re likely to go through wage garnishment ‒ meaning that you’ll be taking home far less money at the end of the week in your paycheck. A 21-day hold might be placed on your bank account in an effort to encourage you to “work things out,” and if you don’t, they may even try to seize your home as a last resort.

Luckily, there are a few things that the IRS CAN’T seize even by way of a tax levy. These include things like unemployment benefits, certain pension benefits, disability payments, workers’ compensation, and others.

❓ What Can I Do About It?

If you can pay your tax bill, do it. If you can’t, set up an IRS payment plan to keep things manageable. Yes, interest and penalties will keep adding up, but it’s better than losing your house.

You also have rights. If you feel the IRS is treating you unfairly, you can file an appeal with the IRS Office of Appeals or request a meeting with a higher-level agent. You can also apply for a Withdrawal of the Notice of Federal Tax Lien or a Certificate of Discharge if your property is on the line.

In situations like these, it’s easy to feel overwhelmed. But you don’t have to go it alone. Working with a seasoned tax professional can help you navigate the IRS and protect your assets.

Need Help?

Dealing with IRS notices is never fun, but you’re not alone. If you need help understanding your options or negotiating with the IRS, our team of tax experts is just a call away. Let’s get your financial peace of mind back on track—starting today!