Beware of Accounting Scams

Internal Revenue Service sign with a traffic signal in the foreground indicating a red light.

What is an accounting scam?

An accounting scam is a scam made by someone who pretends to be an “accounting expert” by taking advantage of the lack of knowledge of the taxpayer. In this way he manages to make collections and generate amounts that are not really what he should be paying. Likewise, omissions or tax failures can also be incurred and this could be very harmful for any of us.


How to avoid it?

The advice given below will help you avoid being a victim of this situation and will give you the peace of mind that your accounting is done correctly.


  1. Search for a trusted person

Each company has different requirements and when it comes to hiring an accountant, he must give you the confidence of knowing that he will handle all your numbers correctly. Ask concise questions and ask for references that can attest to your good work. If you have an SME, look for an independent accountant through your acquaintances or relatives, and also ask for references when interviewing. Remember to make a contract with this person where both agree what their responsibilities will be and where everything related to their employment relationship is established.


  1. Save your acknowledgements

There are many accountants who do not deliver the acknowledgments to their customers and protect them for them to keep a better control of their accounting, do not allow it. Ask your accountant to give you the acknowledgment of receipt of your statements and if you need it, take a photocopy for your records. Thanks to the digitalization of the SAT files, it is now possible to make online inquiries about your tax situation, if you have any doubts, enter this link   to verify the statements that have been made. Compare the SAT data with the information provided by your accountant and make sure everything corresponds correctly.


  1. Never deliver your FAITHFUL

Your Advanced Electronic Signature (FAITHFUL) is just that, your signature. Many accountants ask their clients for their FAITHFUL so that they can carry out various procedures on their behalf, but in doing so the taxpayers are exposed to the misuse of it. For this reason, we recommend not giving your FAITH to anyone and when necessary its use you meet with your accountant to perform the necessary procedures.


  1. Safeguard your electronic invoices issued and received

By law the SAT asks taxpayers to keep their invoices issued and received for a minimum of 5 years. During this time, it is YOUR responsibility to take care of this, since if you depend on your accountant to do so, you could risk mistakes or fraud.


  1. Pay attention to the messages you receive from the IRS

The IRS periodically informs you about your tax situation through your email, and also notifies you when a statement has been made or the lack thereof. This is a very good way to monitor the activity of your accountant and to check the amounts and procedures that are performed. You can forward these emails to your accountant if required, but always remember to check them carefully to avoid any problems.

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