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The Consumer Quarterback Show
CQB Show 8.15.18
Jake Alexander, William Crowley
Jake- the chance of an audit is slim, HOWEVER you better have all the necessary receipts, documents, just in case
-prepare for taxes in the 2nd quarter, don't wait until the last of the year
-when you need a tax attorney for audit, make sure your attorney is aware of all the options...many claims that say "we can get your debt forgiven for just pennies on the dollar,QUICKLY " are misleading....the IRS may work with you but it will be over time, you must comply with the IRS for a period of years, not OVERNIGHT
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William-fair credit reporting act of 1970, establishes rights for all consumers...the debts must be verified by the consumer....you have rights, the credit reporting agencies cannot sell your credit info to collection agencies, etc without verifying this information
-with all the ID theft in our society, it is very possible that false or misleading credit info will crush your financial profile
-all these companies that sell security, identity protection like LIFELOCK...ETC are also in the business of selling your identity to other companies
-if businesses just followed the FAIR CREDIT REPORTING ACT, there would be no need for IDENTITY PROTECTION
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