The IRS may be snooping through Facebook and Twitter - 21 News Now, More Local News for Youngstown, Ohio -

The IRS may be snooping through Facebook and Twitter to nab tax evaders

Updated:
Image courtesy of Digital Trends Image courtesy of Digital Trends
  • More NewsMore>>

  • BREAKING NEWS

    Hostage released at the Trumbull County Jail

    Hostage released at the Trumbull County Jail

    A five hour hostage situation at the Trumbull County jail ended with the safe release of a corrections guard taken hostage by 3 inmates.

    Authorities “talked it out” with the inmates resulting in the release of the guard who at one point had a homemade prison weapon held to his throat.
    More >>
    A five hour hostage situation at the Trumbull County jail ended with the safe release of a corrections guard taken hostage by 3 inmates.

    Authorities “talked it out” with the inmates resulting in the release of the guard who at one point had a homemade prison weapon held to his throat.
    More >>
  • Suspect in Trumbull County jail hostage crisis facing death penalty case

    Suspect in Trumbull County jail hostage crisis facing death penalty case

    Wednesday, April 23 2014 8:55 PM EDT2014-04-24 00:55:14 GMT
    One of the three inmates identified as being involved in a hostage situation at the Trumbull County jail faces criminal charges that could bring the death penalty if convicted.Authorities say that 29-year-old David Martin of Cleveland is awaiting trial for the murder of Jeremy Cole in Warren in October, 2012.Martin was a neighbor of Cole who was shot to death at a home on Oak Circle SW. A woman was also wounded during the crime.The Trumbull County Grand Jury handed up a ten count indictment a...More >>
    One of the three inmates identified as being involved in a hostage situation at the Trumbull County jail faces criminal charges that could bring the death penalty if convicted.Authorities say that 29-year-old David Martin of Cleveland is awaiting trial for the murder of Jeremy Cole in Warren in October, 2012.Martin was a neighbor of Cole who was shot to death at a home on Oak Circle SW. A woman was also wounded during the crime.The Trumbull County Grand Jury handed up a ten count indictment a...More >>
  • Remembering Idora Park over the years

    Remembering Idora Park over the years

    Wednesday, April 23 2014 8:52 PM EDT2014-04-24 00:52:10 GMT
    This Saturday will mark the 30th anniversary of the devastating fire that led to the closing of the Idora Amusement Park. Glenn Stevens took a look back at Idora Park's history and the memories it made for generations. More >>
    This Saturday will mark the 30th anniversary of the devastating fire that led to the closing of the Idora Amusement Park. Glenn Stevens took a look back at Idora Park's history and the memories it made for generations. More >>


By Francis Bea
Provided by

It's tax season, and that means plugging away at all of this past year's financial activities. Not every tax payer (or evader) in the U.S. will get flagged and audited. But if you do, here's one piece of advice: Your social network activity better back up what you've submitted to the IRS or else you could be in a world of financial hurt, according to RT.com.

Tax evasion isn't the only thing to worry about. Expenses are probably the easiest figures to fudge, and apparently the IRS knows this. So can auditors find out that you've fudged some numbers? Well, public accountant Kevin McQuillian tells CBS Pittsburgh not to "post on social media things you don't want others to access, like the IRS."

To be specific, if you've taken any business trips and boasted to your friends on Facebook or Twitter about the mini-vacations you're taking at the same time and writing off as business expenses, you're exposing yourself to the possibility of tax fraud if the IRS decides for whatever reason to take a look into your finances. Sharing your recent purchases of designer bags and watches despite working at a low-paying 9-5 job might raise eyebrows as well: Legally obtained money or not, cash under the table that you haven't presented to the government is still illegal since taxes are supposed to be applied.

Despite reports that the IRS is planning on using social media to uncover evasive or untrustworthy tax payers, the agency denied to Fox Business that it had any plans to use social media information as evidence to audit citizens. "Suggestions that the IRS is using social media to target taxpayers for audit are wrong. Audits are based on the information contained on a person's tax return, not a posting on a social media site," an IRS spokesperson told Fox Business.

But the same spokesperson later had this to say: "Respecting taxpayer rights forms a central part of all of our enforcement efforts, and that includes instances where we monitor publicly available information to assist with already existing compliance work."

Even if the IRS is looking at flagged citizens' social accounts, there's nothing illegal going on – it's the potential for misrepresentation that taxpayers have to worry about. Facebook and Twitter and Instagram are natural grounds for boasting, bragging, and plenty of exaggeration – and that could come back to bite you at tax time.  

This article was originally posted on Digital Trends

Content provided by
INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms