Different Types Of Taxes Related Guideline
The scam comes to your email box from a purported IRS email address. The subject line of the email states "unreported/under reported income [Fraud Application]".
This is defined by the IRS as "if the taxpayer is physically present in a foreign country or countries 330 full days during a period of 12 consecutive months."
The purpose is to collect tax revenue for the federal government and agency goes about that in a number of ways. The primary method for "encouraging" compliance is to do audits.
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Beware, because NOT ALL Energy Star rated products qualify. To find the list of what does, visit the government link included here.
The good news is, even though your credit card processing account costs a minimal amount of money, it's still an operating expense. This means you can deduct a percentage of the total fees from your business' income and get a large portion of this money back.
The amount was increased from $7500 to $8000 and $4000 for married filing separately. Second, the regular recapture requirement was removed, so this is now truly a tax credit and no repayment is necessary.
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