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Speaker 1: Well, there's a couple of things. You know. Unfortunately, right

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now is also find time for tax fraud, and.

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Speaker 2: You know it's a big part.

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Speaker 1: It's one of the fastest growing segments of identity theft,

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so people need to be.

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Speaker 2: Aware and beware.

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Speaker 3: You're listening to Carrie. Let'sa's financial survival Network where you

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get valuable information you just can't find anywhere else to

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thrive in today's trying times. You need the Financial Survival

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than ever.

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Speaker 2: And welcome.

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Speaker 4: You are listening to the Financial Survival Network. I'm your host, Carrie.

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Let's say it's we're at the end of March here already,

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just a few more days. And you know what that means.

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April fifteenth is just a few weeks away. So the

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question is are you ready for it? What's going to happen?

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What do you do if you get a tax lean?

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What are your remedies? And our good friend Paul Osters

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with us from better Qualified dot com. Paul, so April

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fifteenth right around the corner, what should you be doing?

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Speaker 1: Well, there's a couple of things. You know. Unfortunately, right

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now is also fine time for tax fraud.

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Speaker 2: And you know it's a big part.

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Speaker 1: It's one of the fastest growing segments of identity theft,

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so people need to be aware and beware of. There's

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a couple of different, very very prominent scams right now.

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Speaker 2: One is the smishing.

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Speaker 1: An SMS text message get sent out to somebody claiming

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that they had trouble processing your refund. They need to

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speak to an agent immediately. They give you an eight

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hundred number or an eight eight eight number to call into.

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But obviously you're not calling the IRS, you're calling the

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identity thieves. They will also do this with robocalls. They're

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you know, calling million and millions of Americans every day

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again claiming that it's agent oster from the IRS and

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there seems to be fraud associated with your account. We

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just need to verify some information. And the reason why

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these scams are so good is they already have some

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of your information. So they might verify your actual physical

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mailing address, they might verify your data birth, they might

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verify your email, your phone number. Then they're going to

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ask you right so you're saying, okay, they have all

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this information, it's probably a legitimate call. Then they will

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ask you, can you please verify your Social Security number?

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And people have a tendency to fall prey to that

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type of situation. This can also be done via an email,

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which we call phishing, and it's the same situation. The

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email looks like it's from your bank, it looks like

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it's from the IRS. They're very, very convincing. Unfortunately, again

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now with AI, the bad actors are using AI to

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perpetrate a lot of these crimes.

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Speaker 2: So people just need to.

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Speaker 1: If you're in a situation where someone calls you again,

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the I r S will never ever call you.

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Speaker 4: Uh.

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Speaker 1: They have gotten a lot better over the years, but

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they're still not calling taxpayers. So if you get a

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text message like that, just don't answer it, you know,

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b take control of the situation. You could call your

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local I r S office, use a number that you

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find obviously not the number that they provide in the

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text or the email. If you get the phone call,

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just simply hang up if you're concerned about it. Again,

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take control of the situation. You drive the pathway from

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your resources.

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Speaker 2: Again, not from what they're providing you.

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Speaker 1: The I R S recommends really two really really good

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tips for protecting your identity. So, what happens in most

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cases as people are filing fraudulent tax returns under your

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Social Security number, and that could be to avoid that

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person paying the taxes, you actually get you know, hit

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with the tax it could ultimately for sure become a

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tax lean. But the IRS suggests two things. One is

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creating an identity protection pin an ip PIN, and it's

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a six digit number. The IRS will not process a

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tax return without providing that pin. So that's a really

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good way to stop that fraudulent tax returns from being

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filed under your Social Security number. The other thing that

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people should do. Consumers might not be aware, but we

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all have the ability to create an online account with

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the IRS, and there's lots of different reasons why people

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create those accounts. You can get copies of your transcripts

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and see your payment history, your tax returns. But the

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problem is if the consumer doesn't open up this online account,

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the identity thieves will, and once they open that account,

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then it becomes that much easier for them to file

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these fraudulent tax returns. So if you go to IRS

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dot gov, go to IRS dot gov and you can

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create your online portal password and pin protected. That is

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also where you can create your IP pin, that identity

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protection pin, that six digit pin that is necessary for

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anyone including yourself, to file a tax return on your behalf.

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Speaker 4: So you know that's you raise a really good point

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here that will help you in any of your dealings

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with the federal government, and that is that you create

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one unified log in for everything Social Security, IRS and

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a whole bunch of other different departments. And I think

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it's called I can't remember the name of it now.

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Speaker 2: I think it's id ME.

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Speaker 4: I D ME, right, that's it, I D ME. And

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if you haven't set that up, yeah, you need to

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do it.

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Speaker 2: Yep, yep.

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Speaker 1: So you know, again those are just some you know, uh,

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tax season specific threats for identity theft. Now, let's you know,

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say that a tax lean gets filed against you, and

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it could be erroneously or you could actually owe back taxes.

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So it's really really important that you deal with this

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head on. This is a problem that just keeps getting worse.

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It does not just go away. You cannot ignore it,

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bury your head in the sand and hope for the best.

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You have to deal with this head on.

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Speaker 2: Now.

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Speaker 1: The good news is, in the current environment, the IRS

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has been very very lenient, unintended and willing to accept

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offers and compromise. So that means you're going to wind

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up paying less for what you owe of the balance. Now,

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obviously it's going to be based on your current income

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and assets. But if you're really in a tough spot

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and you couldn't pay the tax lane, the IRS is

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somewhat understanding to that position. They will put you on

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a payment plan and again they can certainly lower the

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principal balance based upon your current economic situation.

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Speaker 2: Mhm.

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Speaker 4: So let's talk about the IRS with what's going on there.

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I mean they're laying people off. You got Musk and

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Doge basically saying your computers are garbage. They got to

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be updated now, and we're going to be the ones

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to do it. They said that between the Tech support

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Department and the Programming department, they have like eight thousand

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people and a seven billion dollars a year budget, which

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has turned into a grift for the major contractors. You

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think we might actually see an improvement in service from

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this agency.

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Speaker 1: I think there's no doubt you're going to see an

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improvement in a lot of government agencies, So love him

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or hate them. One of the mantras I've been saying,

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you know, with the current administration in place and what

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they're doing, is you can hate demand, but don't hate

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the mission because you and I both pay taxes. And

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the amount of fraud, the amount of wasteful spending that

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has been uncovered in a very very short period of

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time is just a it's breathtaking, and every American should

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be angry, not at the administration for putting these processes

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in place that are uncovering this. They should be mad

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at the past administrations. And I'm talking both sides of

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the Aisle is Hana. This is not a partisan you know,

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uh project. This is not something that the Republicans are

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saying the Democrats did it. It's not the Republicans are

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saying everybody has done it. Everyone's talked about, you know,

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all these pork belly projects and.

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Speaker 2: All this stuff.

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Speaker 1: And again, even myself, I knew that there was a

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certain amount of stuff that always gets thrown in these bills.

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I didn't realize that some of it was going, you know,

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into certain classes in the middle of the Congo and

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you know, you're and we're not talking tens of thousands

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of dollars, we're talking new this.

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Speaker 4: Yeah.

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Speaker 1: So again that has a direct impact me on me

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as a taxpayer. So I'm angry that all the past administrations.

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I don't Again, it doesn't matter to me whether it

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was a Republican or Democratic administration. They're all guilty. They

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all let this happen under their watch.

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Speaker 4: Yeah. Yeah, well it's a grift. It's a giant grift.

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Party doesn't matter. It's the uniparty, And you should be

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angry at the politicians, both current and former, for allowing

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the scam to occur and throwing US thirty six trillion

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into debt thirty.

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Speaker 2: Seven and with no end in sight.

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Speaker 4: Hey, before we continue on this line, I just got

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an email and it says there's now an easy pass

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scam that they're using to text. They text that there's

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a problem with your easy pass and they want to

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pay the Yeah, your regardssons.

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Speaker 1: I've gotten it. So it's it comes from it's not

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just easy pass. A lot of them are are more generic.

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They say there's a problem with the toll provider in

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your state, And again, depending upon what's happening in that

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person's life they be, they can fall victim. Again, it's

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very very easy for people to fall victim. Here, you're

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in the middle of a life event, crisis, whatever may

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be happening. Maybe you're looking, you're in the middle of

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purchasing a home, or you know, some other financial endeavor,

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and you don't want this to have a negative impact

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on your credit. So people wind up just paying it,

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or even worse, they're providing more and more non public information,

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sensitive data and information where they can now steal even

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more money. So just paying a toll that you know

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you should have had to pay in the first place,

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that's not good. But giving them access to whether it's

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your bank accounts or your tax returns, you know, that

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could be one hundred times worse.

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Speaker 2: So again, I got one. I got one just last week,

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well a couple. I've gotten a few of them. Actually,

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this one in.

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Speaker 4: The last week says please pay the tolls on time,

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thank you for your cooperation.

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Speaker 2: And it's telling me, you know, to go to sun Pass.

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You know.

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Speaker 4: Yeah, So I go to my son Pass because I'm

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in Florida and I've got money in the account. Everything

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is paid, nothing is behind, you know. Yep, and you

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know it's just another scam to getting back to this doge.

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This is necessary. I think every level of government should

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be doing doage here. If they're spending more than like

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one hundred million a year, they should have a government

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efficiency department to see that they're spending it all wisely

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and that we're not getting scammed.

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Speaker 1: Yep again once again the general public. There should be

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way more transparency, and they you know, by design, they

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wanted us taxpayers to think that it was not easy

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to access certain informations. Where is the money going and

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how is it being spent, and how much money was

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being allocated? Look at look at how much money we're

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sending to these private universities that, by the way, some

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of them are the richest companies in the world. They

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have endowments that are worth billions of dollars. They could

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they could self fund themselves for one hundred years, and

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yet their their tuition is out of control, so they're

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putting they're putting students in a really bad position by

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forcing them to take out exorbitant student loans. So they're

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collecting all these tuitions. Their endowments are making money every

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single day without doing anything, and we're sending them four

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hundred million dollars a year.

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Speaker 4: You know, it's it's even worse than that because Harvard

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was one of the main shareholders in a payday lending scheme.

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You know. So it's not bad enough that they're screwing

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you on the student loans, but then you.

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Speaker 2: Know you're going to be paying for payday lending, right.

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Speaker 1: These are These are investment banks and again privately held

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for profit companies. These are I don't care you know

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how they put you know, their forward facing, this is

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what we do. These are companies. These are very very

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large corporations. There their monies are being handled by wealth advisors,

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ginormous private equity firms that again are generating them millions

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of dollars every single year on top of their tuition,

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and yet the government is subsidizing them by sending them

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hundreds of millions of dollars. So something, something does not

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make sense to me. There, Put that money back into

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the system. Put that money back into financial aid for

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students so they don't have to borrow so much money

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to start. So these are all Every single day I

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scratch my head and I say, I can't believe that.

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I can't believe that. I can't believe that. And it's

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going to get worse before it's get better. And this

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ripping off the band aid approach is not popular with everybody,

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but there's no way around it. We were literally good,

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we were going to go bankrupt sooner than later, all

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the smoke and mirrors trying to handle this debt. Meanwhile,

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we're selling off tons of property real estate in our

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country to foreign entities because we're trying to pay off

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our debt. We're trying to you know, the foreign countries

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are calling their notes and saying you have to pay us,

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and we don't have the money to pay out because

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it's literally no money. So we're selling off operations, were

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selling off land and real estate, and that's not that's not.

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Speaker 2: In anybody's best interests.

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Speaker 1: So I'm glad they ripped the band aid off. I

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hope they continue to rip the band aid off and

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just continue to expose the wasteful spending. They might be

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able to cut our taxes without cutting any programs.

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Speaker 2: Yeah. Now when I say.

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Speaker 1: Programs, I'm not talking about right, I'm not talking about

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the people who work in those agencies because there's so much.

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Speaker 2: Fat, you know, they everyone got bent.

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Speaker 1: Out of shape because they were asked to reply to

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an email about what you did the week before, and

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a lot of people didn't reply. You know why, because

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they don't really work there.

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Speaker 2: They didn't even get the email.

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Speaker 1: They don't get the emails because they never check their emails,

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because it's a no show job. No show jobs are

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all over this country again, millions, maybe billions of dollars

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being paid out that people who do nothing.

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Speaker 2: Who do nothing, Yeah, no show jobs.

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Speaker 4: Hey, Just to go back to the college endowments here,

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This is as of the fiscal year twenty three. It's

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higher now by about ten percent. Harvard University number one.

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I happen to read that they had fifty two billion

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this year their endowment. University of Texas, that's a public

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education institution in Texas, but it's funded by all this

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oil money. Forty five billion, Yale University forty one, Stanford

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thirty six and a half, Princeton thirty four, MIT twenty three.

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So that now we get into the poorer schools. But

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even the lowest one on the list here, University of

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Virginia has ten billion.

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Speaker 2: I mean, I'd like to be that Bork Gary. I'd

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like to be that tour.

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Speaker 4: Yeah, yeah, I really think ill for them. And they

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lost money in their endowment in the twenty three what

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a shame. But yeah, on topkins in twenty three their

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endowment went up twenty eight percent. I don't know if

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they're in those payday loans or not, but those payday

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loans are very profitable.

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Speaker 1: Yep, absolutely crazy again, I hope you know, you know,

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people are concerned about those stock market, people are concerned

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about the economy. But at least we will have a good,

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you know, launching point. And it's not going to be

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from smoking mirrors. It's going to be Hey, this is

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what it is. This is what the value of things

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really are. And look, I think it's going to have it.

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You've already saw the last report. It's having a positive

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impact impact and inflation because we have to stop just

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printing money and giving money away and that's going to

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help us.

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Speaker 2: That's going to help.

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Speaker 4: Yeah, the combination of cutting the spending, upping the tariffs,

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because that'll bring in selling the Trump Gold card immigration

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visa five million each according to the Secretary of Commerce.

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I think he said that he had sold like one

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hundred thousand of them already.

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Speaker 2: That could bring in a trillion and you look at

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the I think it was.

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Speaker 1: The announcement was yesterday from Hyundai, big big deal. And

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again the administration is telling all of these foreign corporations,

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we want to do business with you, but do business

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here if you want to. If you want us to

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buy the Hyundai, build the car here, American workers build it.

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It's your corporation. But that's how you avoid the tariffs.

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If we're if we're importing all of this stuff, that

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makes us crazy. And what more fair and equitable way

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to say, I will tax you. I'm gonna put the

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same tariffs that you put on us. Now, how come

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that hasn't been happening since day one?

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Speaker 2: And this just happened today.

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Speaker 4: I don't know if you've caught the news, but the

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EU agreed to only put a two and a half

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percent duty on vehicles coming in from the United States.

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Speaker 2: Prior it was twelve and a half percent.

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Speaker 4: Our duty on EU vehicles like Mercedes, BMW and Volkswagen

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was only two and a half. So reciprocal tariffs are

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working already.

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Speaker 1: They're working like a charm. And again, the average person

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got nervous. They didn't understand there were lots of there's

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lots of fear mongering going on, and again it's not

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the best situation or scenario for everybody, but it's something

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that had to be done. So nobody likes change. But unfortunately,

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if we didn't change, you know, things would have just

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kept and keep, you know, worse and worse and worse.

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In this country.

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Speaker 4: Absolutely could not agree with you more. And you know,

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the average tariff in the United States, and this is

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with trade being dramatically understated because there's a scam that

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they use called to Minimus exports where it doesn't even

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go through customs says the value of this stuff is

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next to nothing, so there's no duty or tariff do

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But our average tariff on what's reported is about two

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percent eighty billion a year. So look, I'm in favor

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of a national sales tax, get rid of the income

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tax altogether, easier to administer and you're paying for it

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in any way. Let's take the middleman out and it's

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automatically withheld. Sure there'll be people looking to subvert it

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and get around it and all that, that's just normal business.

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But easier to enforce us sales tax than an income tax.

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Speaker 2: I couldn't agree more.

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Speaker 1: And then that's you know, you're getting taxed more if

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you're spending and buying, you know, but that's the way

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it should be.

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Speaker 4: And then Luton Stave, you know, get taxed right exactly,

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exact exempt basics like food, like drugs, like all the

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stuff you really need.

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Speaker 2: But otherwise, you know, let's do it. Hey, Paul, appreciate

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you coming on. We got to run now.

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Speaker 4: Just tell us where we find you again, how we

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connect with you on the web.

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Speaker 1: So go to better qualified dot com. Better qualified dot com,

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we actually put together a self help guide, you know,

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regarding identity theft protection.

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Speaker 2: Every link that.

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Speaker 1: You need for the I R S, for your IP pen,

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for your online account, all that stuff is there with

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step by step instruction.

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Speaker 2: So just go to better qualified dot com.

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Speaker 4: Very cool man, Hey, thanks for coming on. It's always

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great to welcome to you. The link to Paul's site

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is in the show notes this interview. Make sure you

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00:23:04,640 --> 00:23:07,640
click it get that guide. While you're at the site.

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00:23:07,799 --> 00:23:10,519
Financial Survival Network dot com, please sign up for your

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00:23:10,519 --> 00:23:13,640
free newsletter. Like over seventy five thousand of.

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00:23:13,559 --> 00:23:16,039
Speaker 2: You out there have done. Paul, We'll talk to you

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again real soon. Be well.

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Speaker 3: Thanks Kerry good too, thanks for listening to Carrie Letz's

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00:23:21,079 --> 00:23:26,119
Financial Survival Network, your solution to today's trying times. For

387
00:23:26,200 --> 00:23:31,000
the latest, go to Financial Survivalnetwork dot com. Financial Survival

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00:23:31,039 --> 00:23:33,640
Network now more than ever,