The ULTIMATE Social Security + IRS scam - the inside story

The ULTIMATE Social Security + IRS scam - the inside story

If you are fine risking a prison sentence and being completely dishonest, there is a little known tax scam where filers report too much income. There's a reason why. Will they ever get caught? https:///www.irsmedic.com Most tax scams have one thing in common - reporting too little in income. But there’s one scam I learned years ago from a Revenue Officer who is friend of mine. Now that he’s retired I can tell you about it - not because I want you to do this - oh it is most certainly a violation of US law that will put you in prison for many years if you get caught. Yet it is one of those things the government doesn’t want you to know about as it reveals a significant lack of control over something they pretend is well-administered. . A lack of control that is entirely foreseeable when you take something as complicated as the US tax code and combine it with our very expansive federal law that it must interact with.. So let’s get into this scam - one that you shall never do. Let’s suppose you are 58 years old. And you haven’t reported a lot of income your entire career and you start thinking about your social security benefits. You got most your recent statement from the social security administration and you see your retirement will be pretty light. Your income looks to be both fixed and very low. This saddens you. You want to get the maximum social security benefit but based on your contributions you will get the least. Let us suppose that you know that if you contributed the maximum for 40 quarters or 10 years, that you know that would qualify you for the maximum monthly benefit. And now let us suppose you are cavalier with the truth and your own freedom. So you file 10 years of tax returns with a Schedule SE filled out showing that you owe the maximum in self-employment tax - and this is key - self-employment is where your social security taxes are calculated. So even though these 10 returns show a ton of income and a ton in taxes you owe, you file them anyway. You file them anyway because you know that once the returns are filed - as long as they are not examined by an IRS examiner or another investigator, you know they will be processed and the 10 year statute of limitations on collections will begin to run. And you know that if you just lay low for a bit, the IRS will eventually give up looking for you, unless you give them a reason to look for you. And your tax debt will expire. So now that you are 68, you no longer owe the IRS anything and you based onto contributions you said you made - are now entitled to the maximum allowed by law for the rest of your life. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.com https://youtu.be/3gpFcc0E8qc IRS Medic