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Benzinga
Benzinga
Business
Jamela Adam

IRS Warns Of Exploding Social Media Tax Scams — 'These Schemes Are Not Only Misleading But Can Cost Taxpayers Dearly' As $162M In Penalties Pile Up

IRS Instagram TikTok
IRS Changes Retirement Catch-Up Contributions

Social media can be a great place to connect with like-minded people and discover new dinner recipes, but it's not the best place to get your tax advice. In a recent update, the IRS said it’s already assessed more than $162 million in penalties tied to false tax credit claims spread on platforms like TikTok and Instagram. 

How the Scams Work

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