April 25th—The Treasury Inspector General for Tax Administration (TIGTA) issued another IRS impersonation scam alert!
Individuals impersonating Internal Revenue Service (IRS) employees or Treasury Department employees are demanding tax payments on iTunes gift cards.
This is a variation of the scam that asked for tax payments on Green Dot Prepaid Cards, MoneyPak Prepaid Cards, Reloadit Prepaid Debit Cards, and other debit/credit cards.
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Grassi & Co. is built around a client-centered approach that provides expertise focused on an organization’s specific needs. Our Industry Practice Groups are built around teams of specialists who continuously study the dynamics of their industry in order to make positive business improvements for clients.

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Providing services that meet and exceed our clients’ expectations is our top priority. We use a multi-functional approach with industry and subject matter experts who have the knowledge, skills, and experience to provide value-added services focused on bringing clients to the next level of success.

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NEWS

2016-2017 NY State Budget Announced

Governor Cuomo and Legislative Leaders announced an agreement on the 2016-2017 state budget. The budget includes policies that will strengthen opportunity for working and middle class families, provide $24.8 billion in education aid and a $4.2 billion middle class tax cut once fully effective.

 

Read more:

2016-2017 State Budget

Adam B. Schuman Joins Grassi & Co. as Chief Growth Officer

Adam Schuman_3437New York, NY – March 29, 2016 – Grassi & Co. is proud to announce that Adam B. Schuman has joined Grassi & Co. as the Chief Growth Officer based out of the Jericho office.

Adam brings more than 20 years of in-depth knowledge of proven marketing and business development principles resulting in increased sales, profit, and growth. Specific deliverables include: advertising, business planning and development, communications, marketing plans, new product and service launches, public relations, social media, special events and strategic planning.

Adam describes himself as a motivational leader that combines entrepreneurial passion and strategic perspective along with an ability to apply demonstrated practices from a range of industries to create marketing programs considered best-in-class.

Adam was formerly the Director of Marketing and Business Development and Acting Chief Marketing Officer at Blank Rome, LLP, an AmLaw 100 Law Firm.

“Adam’s areas of expertise, particularly in the Business Development area, make him a true asset to Grassi & Co.,” said Managing Partner and CEO Louis C. Grassi, CPA, CFE. “We have a strong record of growth and, with the addition of Adam, I am more confident than ever that we will reach our goal of doubling the size of the firm within five years.”

Adam is a graduate of the State University of New York at Albany, where he earned his B.A. and Dowling College where he earned his Masters of Business Administration in Management, Marketing and Finance.

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 About Grassi & Co.: Grassi & Co. is a premier professional services organization specializing in accounting, auditing, tax, technology, and business consulting. Grassi & Co. was recently ranked the 17th largest Accounting Firm in New York by Crain’s New York and the 7th largest by Long Island Business News. It was also ranked the 73rd largest in the U.S. by Accounting Today and the 74th largest by INSIDE Public Accounting. They have offices in Manhattan, Long Island and Rockland County, NY as well as internationally through its association with Moore Stephens International. Grassi & Co. specializes in professional services for the Not-for-Profit, Construction, Architecture & Engineering, Financial Services, Life Sciences, Manufacturing & Distribution, Retail, Technology, Media & Telecommunication, Transportation, Energy & Natural Resources, and Healthcare industries, among others.

 

 

U.S. TIGTA Urges Taxpayers to Remain on “High Alert”

WASHINGTON — The Treasury Inspector General for Tax Administration (TIGTA) urged taxpayers to remain on “High Alert” and announced additional outreach efforts to prevent them from falling victim to criminals who impersonate Internal Revenue Service and Treasury employees this filing season.

“The phone fraud scam has become an epidemic, robbing taxpayers of millions of dollars of their money,” said J. Russell George, the Treasury Inspector General for Tax Administration. “We are making progress in our investigation of this scam, resulting in the successful prosecution of some individuals associated with it over the past year,” he said, adding that over the summer, a ringleader was sentenced to more than 14 years in federal prison.  “However, this is still a matter of high investigative priority.”

TIGTA continues to receive reports of thousands of contacts every month in which individuals fraudulently claiming to be IRS officials make unsolicited calls and “robocalls” to taxpayers and demanding that they send them cash, he said.

“As the tax filing season begins, it is critical that all taxpayers continue to be wary of unsolicited telephone calls and e-mails from individuals claiming to be IRS and Treasury employees,” said the Inspector General. “This scam has proven to be the largest of its kind that we have ever seen. The callers are aggressive and relentless,” he said. “Once they have your attention, they will say anything to con you out of your hard-earned cash,” George added. “We will be very aggressive in pursuing those perpetrating this fraud,” the Inspector General said. “In the meantime, we need to do even more to warn taxpayers not to fall for it,” he added.

TIGTA’s expanded outreach initiative includes video Public Service Announcements in English and in Spanish that warn taxpayers about the scam.  In addition, TIGTA is working with its partners in the public and private sector to help get the word out, both through traditional law enforcement channels and through direct outreach to associations, nongovernmental organizations, and the media.

TIGTA has received reports of roughly 896,000 contacts since October 2013 and has become aware of over 5,000 victims who have collectively paid over $26.5 million as a result of the scam, in which criminals make unsolicited calls to taxpayers fraudulently claiming to be IRS officials and demanding that they send them cash via prepaid debit cards, money orders or wire transfers from their banks.

“The number of people receiving these unsolicited calls from individuals who fraudulently claim to represent the IRS is growing at an alarming rate,” George said. “At all times, especially around the time of the tax filing season, we want to make sure that taxpayers are alerted to this scam so they are not harmed by these criminals,” he said, adding, “Do not become a victim.”

“This is a crime of opportunity, so the best thing you can do to protect yourself is to take away the opportunity,” the Inspector General added. “If someone unexpectedly calls claiming to be from the IRS and uses threatening language if you do not pay immediately, that is a sign that it is not the IRS calling, and your cue to hang up,” he said. “Again, do not engage with these callers. If they call you, hang up the telephone.”

Inspector General George noted that the scam has hit taxpayers in every State in the country. Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card, money order or a wire transfer. The scammers threaten those who refuse to pay with being charged for a criminal violation, a grand jury indictment, immediate arrest, deportation or loss of a business or driver’s license.

Here is what you need to know. The IRS generally first contacts people by mail – not by phone – about unpaid taxes and the IRS will not ask for payment using a prepaid debit card, a money order or wire a transfer. The IRS also will not ask for a credit card number over the phone.

The callers who commit this fraud often: 

  • Utilize an automated robocall machine.
  • Use common names and fake IRS badge numbers.
  • May know the last four digits of the victim’s Social Security Number.
  • Make caller ID information appear as if the IRS is calling.
  • Aggressively demand immediate payment to avoid being criminally charged or arrested.
  • Claim that hanging up the telephone will cause the immediate issuance of an arrest warrant for unpaid taxes.
  • Send bogus IRS e-mails to support their scam.
  • Call a second or third time claiming to be the police or department of motor vehicles, and the caller ID again supports their claim.

If you get a call from someone claiming to be with the IRS asking for a payment, here’s what to do:

  • If you owe Federal taxes, or think you might owe taxes, hang up and call the IRS at 800-829-1040. IRS workers can help you with your payment questions.
  • If you do not owe taxes, fill out the “IRS Impersonation scam” form on TIGTA’s website, www.tigta.gov, or call TIGTA at 800-366-4484.
  • You can also file a complaint with the Federal Trade Commission at www.FTC.gov. Add “IRS Telephone Scam” to the comments in your complaint.

TIGTA encourages taxpayers to be alert to phone and e-mail scams that use the IRS name. The IRS will never request personal or financial information by e-mail, text, or any social media. You should forward scam e-mails to phishing@irs.gov. Do not open any attachments or click on any links in those e-mails.

Taxpayers should be aware that there are other unrelated scams (such as a lottery sweepstakes winner) and solicitations (such as debt relief) that fraudulently claim to be from the IRS.

Read more about tax scams on the official IRS website at www.irs.gov.

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Top 100 Accounting & Business Consulting Firm

Grassi CPA - Top 100 Accounting Firms - Inside Public Accounting In today’s economic environment, Organizations need the proper strategic guidance to help them leverage best practices, maximize profitability, and implement better decision-making.

Each organization is different and deserves to receive personal attention and guidance from experts who understand their business.  Working with advisers who will custom-tailor their services to meet the specific needs of your business, provides value that will translate into savings and growth.  At Grassi & Co., we focus on adding value and offering services that go beyond the traditional financial statement or tax return to ensure your success.

We are a New York CPA and consulting firm with international capabilities through Moore Stephens International. We serve clients throughout the New York metro area including Manhattan, Long Island, Westchester and Rockland Counties, New Jersey, Connecticut, and Pennsylvania as well as clients across the country and around the world.

Our accounting, tax and business consulting professionals welcome the opportunity to learn about your business and provide you with world class accounting services and business consulting expertise. Grassi & Co. has the experience and skill to help you succeed and achieve your strategic objectives.