Beware of Clean Energy Tax Credit Scams: IRS Issues Warning
Avoid Fake Residential Clean Energy Credits – Tips to Protect Yourself
According to the Best Life, the IRS recently warned people about a new scam involving clean energy tax credits, specifically the Residential Clean Energy Credit (RCEC). This credit aims to reward homeowners who install solar panels or wind turbines to reduce pollution and save money on taxes. However, scammers are misleading taxpayers by selling fake credits that don’t meet IRS rules, targeting those filing Form 1040 for income tax returns.
The RCEC lets homeowners claim up to 30% of the cost of installing clean energy systems like solar panels. But scammers are exploiting this by offering fake credits that don’t qualify under IRS guidelines. This could lead to penalties and extra costs for taxpayers who unknowingly use these illegitimate credits.
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$10,000+ in Tax Savings at Stake: IRS Warns of Scammers Targeting Clean Energy Tax Credits (PHOTO: Forbes)
IRS Commissioner Warns Against Clean Energy Tax Credit Scams – Consult Trusted Professionals to Avoid Risks
IRS Commissioner Danny Werfel advised people to be cautious and consult trusted tax professionals before claiming complex credits like those for clean energy. He emphasized that the IRS is actively monitoring these scams and urged taxpayers to report any suspicious activity to protect themselves from financial problems.
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