The Internal Revenue Service released its annual "dirty dozen" scams for 2022 this month. IRS Commissioner Charles Rettig warned taxpayers about heavily promoted abusive deals they need to avoid and cautioned them to be on the lookout for several common scams that target average taxpayers in order to steal sensitive financial information or money and in some cases leave them in a legal bind. Rettig emphasized his agency's intense focus on the perennial threat posed by spear phishing. And he urged high-net-worth individuals to avoid being misled into using bogus tax-avoidance strategies, which can lead to heavy penalties. The IRS has stepped up its fight against abusive schemes in recent years. As part of this wider effort, the IRS Office of Chief Counsel announced earlier this year that it would hire up to 200 additional attorneys to help the agency combat abusive syndicated conservation easements and micro-captive transactions as well as other abusive schemes. See the gallery for the agency' 2022 "Dirty Dozen" tax scams to avoid.
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Year-end 2024 Tax Topics Checklist