Unfortunately, scammers may have obtained some of your personal information through recent data breaches. This tactic allows a fraudulent preparer to increase their commission by claiming credits you are not entitled to. Even if you know the sender, if an email looks suspicious or unusual, contact the sender directly to confirm they intended to send you the email before opening attachments. If the return is rejected, the IRS provides a specific explanation of the errors that caused the rejection. Ensure the Wi-Fi network is legitimate before inputting sensitive information. <>stream Ensure your tax preparer has a current Preparer Tax Identification Number (PTIN). For many consumers its a daily routine to check emails. Also, the Social Security Administration will never call demanding payments in the form of wire transfer, gift cards or cryptocurrency. The scammer states that this can only be done by confirming some personal information or clicking on a link within the email. You may also wish to contact a legitimate mortgage relief service dedicated to helping those at risk of losing their homes. When possible, access a secure WiFi network that requires a password. If you are not expecting a package and do not recognize the sender, you may wish to do research on the company/person before accepting the package to ensure it is legitimate or decline to accept the package. Be cautious when giving out your personal information. Replying to atleastisoundknowledgable: Discover the Accounting Excellence Awards, Explore our AccountingWEB Live Shows and Episodes, Sign up to watch the Accounting Excellence Talks. www.usa.gov/topics/consumer/scams-fraud.shtml. See Regulatory Notice 14-52 (November 2014) and Regulatory Notice 15-36 (15-36). If you receive a citation with a request for payment, do not click on the link in the email. The call appears to be from a familiar number, thanks to caller ID spoofing. This is done in an effort to legitimize the fraudulent scheme. 2. Meanwhile, scammers hope to cash in on a persons desperate situation. The new chip in credit and debit cards is designed to reduce fraud, but scammers see it as an opportunity to commit fraud. Below are tips to help protect your personal financial information: DO NOT give out your personal information (Social Security Number, bank account or credit card number or PIN) on social media sites. (693-5236) if you believe you or someone you know may have purchased a policy from this agency. Remember that you can only be awarded a grant that you applied for. The terms of issue provide that they are redeemable at the option of the issuer and that the dividend will be payable annually on the anniversary of the issue (this situation reflects option 2 in the table above). If fair value cannot be established reliably, the investment should be measured at cost less impairment (s11.14(d)). A capitalization or spacing difference may be a good indicator that the account is fake. Review the following scams and tips to protect your finances this holiday season. For more information, visitwww.IRS.govandwww.Consumer.FTC.gov. Never deposit a check into your bank account or give money to someone claiming to have won the lottery unless you ensure the funds are available. Scammers may use a logo, design and layout similar to the true website. The Protecting Americans from Tax Hikes (PATH) Act requires the IRS to hold refund checks until February 15 for consumers who claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). Other charges include falsely promising to settle debts within a specific timeframe and enrolling consumers who were not likely to successfully complete their programs causing further debt. For more information, visit theFederal Trade Commission's Consumer Informationpage on government grant scams. Click herefor an article about the complaints. Be sure to use a Volunteer Income Tax Assistance (VITA) program in your community. Many seniors are not required to file tax returns because they earned little or no income. You have heard the sayings, If it seems too good to be true, it probably is, and You get what you pay for your entire life. endobj Thanks very much for taking the time to respond. In another variation, scammers claim to specialize in timeshare resales and promise they have buyers ready to purchase your vacation property. <>stream The following illustration considers the application of FRS 102 to preference shares with both liability and equity components. See Securities Exchange Act Release No. and entities whose share capital is not equity (eg some co-operative entities) may need to adapt the financial statement presentation of members' or unitholders' interests. Below are a few tips for seniors to prevent becoming a victim of a Medicare card scam: Guard the current Medicare card that, if obtained by a scammer, can be used to fraudulently obtain medical services or medications. The scammers deposit counterfeit checks by mobile phone and ask the victim to withdraw money once the deposits are made. It could save your identity and financial information. andOn Guard for Seniorssites for more tips on how to prevent becoming a victim of a scam. Tell the scammer that you refuse to discuss any debt until you get a written "validation notice." Disclosure of distributable profits 2.25 - 2.27 Subsequent events 2.28 - 2.29 Public companies 2.30 - 2.31 Provisions 2.31A - 2.34I The general rule and the exception 2.31A - 2.34AC Application of the exception under IFRSs and FRS 102 2.34A - 2.34I Asset revaluations 2.35 - 2.36 Development costs 2.38 Treasury shares 2.40 - 2.43 Paying more for the hotel room than its standard asking price. The Division of Insurance Fraud will not ask that confidential information be sent over email, nor does it direct consumers to contact a third party to provide this information. FRS 102 paragraph 22.5(e) states that a preference share that provides for mandatory redemption by the issuer for a fixed or determinable amount at a fixed or determinable future date, or gives the holder the right to require the issuer to redeem the instrument at or after a particular date for a fixed or determinable amount, is a financial liability.. Vacations are a time to put down your phone, put away your laptop and enjoy some much-needed rest and relaxation. These scammers will also pose as utility company representatives and try and scare you into believing your utility bill is past due and demand payment before your lights are cut off. Our department manages the financial responsibilities for the State of Florida. Once they have your financial information they hang up never to be heard from again. Avoid purchasing gift cards from individuals. Dishonest attorneys, financial planners, insurance agents, and even those claiming to be veterans advocates seek to scam you out of exorbitant fees for a product that doesnt benefit you or your family. These example accounts will assist you in preparing financial statements by illustrating the required disclosure and presentation for UK companies reporting under UK GAAP (FRS 101 'Reduced Disclosure Framework'). Advertising/Phone Pitch:Con artists post listings for properties that are not for rent, do not exist, or are significantly different from whats pictured. <> * 1,000 Share Capital - called-up but unpaid. But, this does not mean you should trust your tax and personal information with everyone. Let unknown calls go to your voicemail. Scam artists are aware that people tend to be more generous during the holiday season and are taking the opportunity to scam consumers by creating fake charities. TaxCalc has a debtor code for Share Capital not paid, but I only use it for non-directors. How to avoid leaving nearly 70k on the table, Power your practice with integrated software, Working environment in Account / Audit Practise. If you are concerned about your insurance, please contact your insurance company directly using a number you know to be legitimate, such as the number found on your insurance card, bills, or policy. Requests to donate to a charitable organization after a disaster that has been in the news. It is extremely important to use caution if using these networks, as scam artists may create fake, free networks to lure you into signing on and accessing sensitive files, bank accounts or any personal information you may be viewing on your device. If you receive a phone call or email and are unsure whether it is legitimate you should hang up and call your utility company directly to confirm your account information and billing status. To verify if the citation is legitimate, contact your local Clerk of Court or call the DHSMV immediately. For individuals who make less than $64,000 per year, theIRSs Free Fileonline program does not charge a fee to file a return. 78573 (August 15, 2016), 81 FR 55500 (August 19, 2016) (Notice of Filing of SR-FINRA-2016-032) ("Proposal").. 2. There is no need to look for a parking space, no waiting for assistance from a salesperson or having to wait in long lines at the checkout. When you do pay, use a credit card that will help you fight any fraudulent activity. Never wire money via Western Union or MoneyGram or give out credit card or checking account information over the phone unless you initiated the call. Payments should be made to the U.S. Treasury. It is estimated that consumers are holding approximately 14 trillion unused airline miles and loyalty points. A company calling themselves National Sweepstakes has contacted a senior consumer in South Florida claiming to require payments to the IRS in order to collect her $1 million-plus prize. The Lake City Police Department is warning residents, specifically seniors who attend church, about a local confirmed scam. If you receive a call from someone pretending to be from the Department or another governmental agency, do NOT provide any personal or financial information. Any offer of an unsolicited free grant is a scam. Have hunted around FRS 102, and, despite s.4.12(ii) regarding disclosure, I am still uncertain regarding entries for, for example: * 1,000 Share Capital - not called up. The equity element is calculated as any residual value, i.e. Hang up and call the number you know to be associated with the company. Remember, if it sounds too good to be true, it probably is. The unpaid dividend cannot be paid out until there are sufficient accumulated profits available. These fraudulent checks have been received and reported by consumers who were not expecting to receive funds from the Department.Checks have been reported to the Department from consumers in Illinois, New York, Pennsylvania and South Carolina. Phone Pitch:You receive a phone call stating that a warrant has been issued for your arrest because you missed jury duty. endstream In summary, the notes must include: The accounting policies adopted (including changes therein and correction of prior period errors); Once you provide the ID number on the back of the Green Dot card or the verification number for Western Union or MoneyGram, the money is oftentimes gone and cannot be recovered. xYrF}WUeb$T]+WUD@@@+BzcDOw>=0Bu/Y,3Z@0N Gain access to world-leading information resources, guidance and local networks. The scammer assures the seniors that Medicare will fully cover the fees associated with the screening. Advance fee scams occur when a victim gives money in anticipation of receiving something of value such as a loan, contract, gift or investment and actually receives little to nothing in return. The letter contains identifying details on the property and has an official appearance. How to avoid this scam:Your utility company will never call or email you demanding payments. You should also ask that the company send you a copy of a sample policy for you to review, prior to providing any payment information. If you feel you have missed a jury duty summons, call your County Clerk of Courts Office to verify. I won't post the debit to DLA because that particular element is not extraction of profit / value from the Company. Use products and devices aimed at protecting your privacy such as RFID (Radio Frequency Identification) blocking sleeves or wallets. Typically, the scammer will instruct you to purchase a Green Dot prepaid debit card or wire the payment via Western Union or MoneyGram to settle the debt. Dispute, in writing, any accounts that you deem unauthorized or suspicious. Ask your trusted family and friends who prepares their taxes and whether they would recommend the preparer. Be informed. xUKn@V] C ZHY He dkOX'qizp+hz3oJjAHeq8v The scammers then gain information to either fraudulently create new accounts or extend existing accounts without the customers knowledge. Phone/ E-Mail Pitch:You receive a phone call or email explaining that an agency is offering to pay your utility bill as a part of a government approved program. Result:You pay them upfront for assistance or provide personal information- they dont assist with your mortgage payment or, worse, use the personal information you provided to steal your identity. So, DR to the DLA seems incorrect. Notes to financial statements - disclosures. How to avoid this scam:Reputable moving companies will not demand cash or the total amount before moving you, instead you generally pay upon delivery. Similarly, if you pay any fees to sell your vacation property, you may never hear from the company or alleged buyer again. Until recently, STLD policies were prohibited from applying a waiting period for coverage of pre-existing conditions that exceeded 24 consecutive months. Avoid fly-by-night businesses. Pitch:A scammer claims to be able to help find financing agreements for you, despite your credit history, if you pay a finders fee in advance. Where the preference shares are not equity of the issuer, and the terms meet the conditions of a basic financial instrument under s11.9, the investment should be measured at amortised cost.