In recent years, social media has played a prominent role in disseminating various tax fraud schemes. One common scam urges individuals to complete Forms W-2 with fake employer names and falsely inflated income and withholding amounts. Promoters usually claim that if people file these forms electronically, they can receive substantial refunds. Criminals may also encourage their social media followers to claim tax credits for which they aren’t eligible and to invent household employees and claim refunds based on false wages. If caught, individuals who follow such instructions can face severe penalties. So when it comes to tax advice, stick with reputable tax professionals.
