Popular YouTube creators like Jasmine DiLucci are combating misinformation on tax laws, criticizing claims such as haircuts being deductible. The IRS warns that bad social media advice poses a major threat. Private tax professionals have gained followers and clients by addressing this issue uniquely. Last year, a widespread false strategy recommended the fuel tax credit for personal car use, leading to thousands of erroneous claims. The IRS struggled to manage these fraudulent claims, indicating a new level of misinformation not previously encountered.
"This is what we call 'making [stuff] up,'" DiLucci interjects, as a man claims taxpayers can write off haircuts as a business expense.
Last year, a new tax strategy was making the rounds on social media ahead of filing season, especially among a loose constellation of business owners and personal finance influencers.
Some peddled it as a benefit for anyone who put gas in their car, an obvious misuse of the credit, said Danny Werfel, IRS commissioner at the time.
Thousands of returns poured into the IRS from workers claiming tens of thousands of dollars in fuel tax credits.
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