Hey ,
The IRS will NOT accept lies on tax returns, that's all.
You may think lying about deductions and credits will score you free dollars. But that's a dangerous lie.
What is the IRS doing to deal with tax cheats?
Right now, the Inflation Reduction Act recently increased the clean vehicle tax credit to $7,500 – sounds great, right?
Fake tax pros may encourage you to lie on your returns to get such a huge credit. But guess what? You will be caught.
How?
The IRS recently provided guidance about the EV credit stating some requirements, which include the following.
Sellers of EVs qualifying for the clean vehicle tax credit must submit reports to the
buyer when the vehicle is sold and to the IRS within 15 days of the end of the calendar year.
These reports must state the following:
- Name and taxpayer identification number (TIN) of the seller
- Date of sale, sale price, and the maximum credit allowed to the
buyer
- Name and TIN of the buyer
- Vehicle Identification Number (VIN) and battery capacity
- Verification that the original use of the vehicle began with the buyer (for new
vehicles)
The above requirements connect the buyer with a vehicle and the seller. Thus, these details should align in the IRS database.
If you claim a credit for a vehicle that cannot be connected between you, the buyer, and the vehicle itself, you will be audited!!
Therefore, find a professional tax preparer who will not ask you to lie to get a huge refund. That will ruin your business and life.
Hire me to prepare your 2022 returns. I would never ask you to lie.
