For clients of Kate Eiland, please CLICK HERE to see important details related to the Strong Valley transition.
Article

Navigating Tax Season & Social Media Pitfalls

This article dives into the importance of getting sound tax advice from reputable sources and warns against falling for popular trends floating around social media platforms. Getting caught up in one of these scams could lead down a path of unwanted penalties, or worse!

March 20, 2026
Important Disclosure: Content on our website and in our newsletters is for informational purposes only. The information provided may (or may not) directly apply to your situation. We recommend that readers work directly with a professional advisor when making decisions in the context of their specific situation.

Consequences of following fraudulent advice can be severe and expensive

In today's digital age, social media has become a go-to source for quick tips and hacks on everything from cooking recipes to home repairs. However, when it comes to tax advice and social media, taxpayers should tread carefully. The lure of easy fixes and big refunds circulating on platforms like TikTok and others can not only be misleading, but dangerous, potentially leading to identity theft and serious tax problems.

The Perils Of Misleading Tax Information

There’s an alarming trend where social media users share egregiously inaccurate tax advice, including the misuse of common and obscure tax documents. Among these are schemes suggesting falsification of Form W-2 information or inappropriate use of Form 8944, a technical e-file form seldom required by the average taxpayer.

These tactics, aimed at inflating refunds through deceit, could lead honest taxpayers down a path fraught with civil and criminal penalties.

Taxpayers should instead seek reputable sources for tax information and avoid falling into these harmful scams.

Social Media Schemes

Two deceptive practices to keep on alert for are:

False W-2 Claims: This involves fabricating income and withholding information on Form W-2 to unjustly boost refunds. Variants of this scheme misuse other forms, like Form 7202 and Schedule H, encouraging false claims for credits and refunds based on fictitious circumstances.

Misuse of Tax Credits and Forms: Scammers have been encouraging the incorrect application of forms like Form 7202 for credits unrelated to the filer's actual tax situation, exploiting the goodwill of taxpayers seeking legitimate deductions.

Verifying Tax Information: The Safe Path

The IRS underscores the importance of turning to reliable sources for tax guidance. IRS.gov remains the gold standard for accurate information, hosting a comprehensive repository of tax forms and instructions. Taxpayers are urged to use this resource to confirm the legitimacy of tax advice and to follow official IRS social media accounts for up-to-date, trustworthy tax information.

Caution And Due Diligence

The proliferation of inaccurate tax advice on social media highlights a crucial need for vigilance among taxpayers. The allure of quick fixes and substantial refunds can be tempting, but the consequences of following fraudulent advice can be severe.

By relying on reputable sources and verifying information through official channels like IRS.gov, and trusted tax professionals, taxpayers can navigate the tax season safely and efficiently, safeguarding themselves against the pitfalls of misinformation and scams.

Other content you may like

  • No Matter Who Becomes President

    October 3, 2024
    Estate planning isn’t just for the affluent or depend on who is President. A properly structured estate plan is necessary if you wish to direct the distribution of your assets during your lifetime and after your death, as well as choose guardianship for your dependents.
    Read this Article
  • A multi-generational family sitting around a table outside in the backyard.

    Finding More Peace of Mind in Retirement

    July 31, 2026
    Are retirement worries weighing on you? A calm review can help separate financial stress from real planning concerns. Learn how income, spending, reserves, and long-term goals all fit together. With a steady perspective, retirement decisions can feel more manageable.
    Read this Article
  • JUNE Monthly Market Matters

    Tech Titans and Real Estate Resilience

    July 7, 2023
    Strong Valley team members Chris and Jason discuss the performance of domestic and international markets, bonds, commodities, and real estate. They highlight the significant influence of big tech stocks and the impact of a few key players on overall market trends. They also explore the unexpected stability in real estate prices despite rising mortgage rates. They conclude with a discussion on the challenges in the commercial real estate sector due to high vacancy rates, largely driven by the enduring work-from-home trend.
    Read this Article
  • Monitoring & Managing Business Credit Reports

    April 21, 2025
    It’s a good practice to review personal credit reports from the major credit bureaus, but have you considered monitoring them for your business? This article walks through why it’s important for business owners and partners to pursue a good business credit rating.
    Read this Article
  • The link you have selected is located on another server. The linked site contains information that has been created, published, maintained, or otherwise posted by institutions or organizations independent of this organization. We do not endorse, approve, certify, or control any linked websites, their sponsors, or any of their policies, activities, products, or services. We do not assume responsibility for the accuracy, completeness, or timeliness of the information contained therein. Visitors to any linked websites should not use or rely on the information contained therein until they have consulted with an independent financial professional. Please click “Continue to Link” to leave this website and proceed to the selected site.
    phone-handset