Marriott Alumni Magazine

Winter 2018

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by the numbers BY kAsee BAiLeY A Taxing Season As Benjamin Franklin aptly noted, "In this world nothing is certain but death and taxes." Might we add another inevi- tability—namely, the dread that for many accompanies the tax season? With Tax Day looming—April 17 this year— it's time to break out the cal- culator and make sure your finances are in order. your chances oF being audited by the irs. If you live in the White House, the probability of an audit is 100 percent, but for most Americans the odds are slim. Those odds increase when you report either no income or an income of more than $10 million, file a large estate tax return, file internationally, or report unusual or unrealistic itemized deductions. Source: Kiplinger, Time the estiMated nuMber oF taxpayer accounts with personal inForMation accessed during a 2015 security breach on the irs. Keeping an eye out for strange activity surrounding your tax returns—such as requests for your credit or debit card numbers over the phone, sometimes accompanied by threats of involving law enforcement for noncompliance—can help you avoid scams. The iRs will send you a bill in the mail if you owe any taxes, and it will allow you to appeal the amount. To combat possible security threats, the iRs has implemented new safeguards, including strengthened authentications, extended theft protec- tions, enhanced password requirements, and the ability to flag suspicious activity. Source: usA Today, IRs.gov 700,000 0.8 8 MARRIOTT

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