The IRS Dirty Dozen | Preserve Wealth Management

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We've been keeping up with the latest headlines...
here are two of our favorites worth sharing.

Your Money

Each year, the IRS compiles their “Dirty Dozen” – a list of common scams that taxpayers could encounter throughout the year, particularly during filing season. This year's "Dirty Dozen" is separated into four separate categories:

pandemic-related scams like Economic Impact Payment theft;
personal information cons including phishing, ransomware, and phone "vishing;"
ruses focusing on unsuspecting victims like fake charities and senior/immigrant fraud; and
schemes that persuade taxpayers into unscrupulous actions such as Offer In Compromise mills and syndicated conservation easements.

"We continue to see scam artists use the pandemic to steal money and information from honest taxpayers in a time of crisis," said IRS Commissioner Chuck Rettig. "We provide this list to alert taxpayers about common scams that fraudsters use against their victims."

Don't fall prey.

The Dirty Dozen represents the worst of the worst tax scams
source: IRS

Your Life

If you are the kind of person that could never see yourself buying used clothes, it’s time to reconsider. Many major retailers such as Walmart, Nordstrom, Macy's, Eileen Fisher, Patagonia, and REI are selling, or planning to start selling, lightly used clothing. It’s not only good for the environment (upcycling) but also great for your pocketbook with top labels for a fraction of the price. It does require some research and savvy in getting a good product. Check out reviews.

New Bargains in Used Clothes From Big Retailers
by Lisa Lee Freeman

Complexity Simplified

Does your household have an emergency kit? If the pandemic teaches us anything, it’s that we should be prepared with some basic supplies in case of emergency. After an emergency, you may need to survive on your own for several days. Being prepared means having your own food, water, and other supplies to last for several days. A disaster supplies kit is a collection of basic items your household may need in the event of an emergency.

Ready.gov has an extensive list of supplies your household needs for your family to be prepared. The list has been updated in case of another pandemic. Launched in February 2003, Ready is a National public service campaign designed to educate and empower the American people to prepare for, respond to and mitigate emergencies, including natural and man-made disasters. The goal of the campaign is to promote preparedness through public involvement.

Build A Kit
source: Ready.gov

Trivia

A: Bavarian Motor Works
Q: Which two countries share the longest international border?

Back in 1963, this song reached #1