Beware of 2012 Tax Scams

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False/Inflated Income and Expenses

Another popular scam is reporting income that was never earned. Claiming income you did not earn in order to secure larger refundable credits such as the Earned Income Tax Credit could have serious repercussions. This could result in repaying the erroneous refunds, including interest and penalties, and in some cases, even prosecution. 

(Photo: Andersen Ross/Getty Images)

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