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Latest revision as of 10:54, 19 October 2026


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and seize the accounts, stocks and valuables. Contributing a deductible $1,000 will lower the taxable income for this $30,000 per annum person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For your $100,000 every single year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost twice as much! Identity Theft/Phishing. This isn't so much a tax reduction scam as a nightmare wherein identity thieves try purchase information from taxpayers by acting as IRS specialists.

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