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New IRS Portal for Reporting Fraud and Scams

The IRS has launched a new portal that makes it easier to report instances of tax fraud, identity theft, IRS impersonation and other tax-related scams. On the new webpage (link below), people and businesses can report:

- Fake IRS phone calls, emails, and text and social media messages. Scammers posing as government agents often threaten people with arrest unless they submit immediate payments, often in a specific format like gift cards. The IRS does not operate in this way.
- Suspected tax fraud, such as tax evasion schemes or illegal use of offshore accounts.
- Identity theft, which should always be reported to the IRS immediately, even if other government and law enforcement agencies know about the crime.
- Suspicious tax preparation practices, such as a paid tax preparer refusing to sign your return or altering your income figures.

Citizen reporting often plays a critical role in catching scammers and bringing them to justice. This new system makes the process of filing a report less confusing and much more convenient.

IRS Fraud Reporting Site: https://www.irs.gov/help/report-fraud

Health Savings Accounts - Did You Know?

Changing jobs? If you have a health savings account (HSA), you can take it with you. Unlike flexible spending accounts (FSAs), which are usually tied to your employer, your HSA belongs to you. You can continue using your HSA funds after leaving the job where you opened the account. However, you may make new HSA contributions only if you remain eligible to contribute. To remain eligible, you generally must be covered by an HSA-eligible high-deductible health plan (HDHP) and have no disqualifying coverage.

Receiving Online Payments - Did You Know?

If you are self-employed and receive payments through online payment processing platforms, take care to separate business and personal transactions. You can do this by setting up separate business accounts on the platforms, or by using features that allow you to specify the purpose of payments. Otherwise, the platforms may overreport your income.