Jasmine DiLucci critiques misleading tax advice from influencers, particularly the claim that haircuts can be tax-deductible. The IRS recognizes 'bad social media advice' as a major risk, complicating taxpayer compliance. Many private CPAs have emerged to counteract this misinformation, leveraging their platforms to reach broad audiences. Last year, a surge in erroneous fuel tax credit claims highlighted the impact of social media on tax compliance. Unlike traditional scams, this new wave of misinformation challenges the IRS and its response infrastructure, necessitating innovative counter-strategies from tax professionals.
This is what we call 'making [stuff] up,' as DiLucci interjects, while addressing a false claim about writing off haircuts as business expenses. The IRS identifies bad social media advice as a major threat to taxpayers, a challenge they've struggled to counter. Private CPAs, such as DiLucci, have taken the initiative to combat online misinformation, especially as influencers gain traction and followers. Kathleen Thomas notes that the government may find it difficult to counteract this disinformation effectively. Similar to past tax fraud, social media has introduced a unique form of misinformation that complicates traditional IRS responses.
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