Small Business News | SBTV Daily Business News

Online Fraud Up and More Consumers Fear Online Sales

According to the latest report from the FBI’s Internet Crimes Complaint Center, there was a 33 percent jump in online fraud complaints in 2008 from the previous year. Those reported complaints totaled $265 million in lost or stolen money.

Online fraud is a timely and common concern: A new survey conducted by Harris Interactive finds that two out of three Americans (65%) surveyed worry about being victimized online. These crimes range from receiving fraudulent emails to clicking on unsafe websites to being scammed by false car listings on the internet. Nearly one out of three (29%) surveyed have either already personally fallen victim to an online scam or know someone who has. A whopping 70 percent of women report being worried about online fraud.

Sid Kirchheimer, author and consumer journalist, says many of the online scams and schemes are so convincing because they follow important news stories and are constantly changing. Kirchheimer is author of Scam-Proof Your Life: 377 Smart Ways to Protect You & Your Family from Ripoffs, Bogus Deals & Other Consumer Headaches (AARP/Sterling), and writes the popular and award-winning "Scam Alert" column for the AARP Bulletin, the nation's most widely circulated newspaper. His previous books include The Doctors Book of Home Remedies II (2 million copies sold), Never Pay Retail and a dozen others to help empower ordinary people to make the most of their time, money, health and security. He has appeared several times on The Oprah Winfrey Show, the Today Show and other nationally syndicated programs.

The IRS Takes on Online Fraud & Identity Theft

The Internal Revenue Service is not only dealing with taxes; but the agency is also taking on the rising threat of online fraud and identity theft. An upcoming free phone forum entitled: “Everyone's at Risk - Combating the Increasing Threat of Online Fraud and Identity Theft” is scheduled for
August 19, 2009 from the convenience of your business, home, or office. This IRS phone forum is for:

Tax professionals
Attorneys
Payroll professionals
Industry partners
Small business organizations
Small business owners
State and local governments

Learn about:

IRS identity protection efforts
Process for reporting tax-related identity theft
Victim assistance
IRS efforts to combat online fraud targeted at taxpayers
How to report phishing schemes targeted at taxpayers

You can sign up online at www.irs.gov or contact Ann Burton; Phone: (303) 603-4723; E-mail: ann.burton@irs.gov The IRS phone forum is free.

Business Tax Tips on Employer Identification Numbers

If you operate your business as a corporation or partnership, or if you have employees, your enterprise needs an Employer Identification Number. An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, businesses need an EIN. You may apply for an EIN in various ways, and now you may apply online. Generally, businesses need a new EIN when their ownership or structure has changed. to determine if this applies to your business.