Is your new ‘friend’ a tax collector?

August 27, 2009

Be careful about the financial information you share via social media sites. State tax offices are paying attention.

In today's Wall Street Journal, Laura Saunders reports that state revenue agents are nabbing scofflaws by mining information
posted on social-networking Web sites
.

Relocation announcements, professional profiles and, not surprisingly, boasts of financial success are catching collectors eyes, and adding to state treasuries.

Tax officials in Minnesota, California and Nebraska were cited in the story as having success locating tax deadbeats who shared a little too much online.

MySpace seems to be, for now, the primary source of finding out about individuals who might owe taxes. However, I'm sure Facebook, Twitter and all the other similar sites are getting a good once over just in case.

What about Uncle Sam? The IRS isn't saying whether it's using the social tax tracking technique. But you can be sure that light bulbs are going off above heads in offices at 1111 Constitution Avenue in northwest D.C.

And all across Web 2.0, I suspect folks are taking closer looks at their friends and followers lists.

In addition to the WSJ story, you can read other blogger thoughts on this new tax enforcement trend at TaxProf, Michael VanPutten and Mashable.

Hat tip to Claes Bell, Bankrate.com

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Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
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