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The Reason Motorola Solutions Employees Need to be Aware of Common Tax Scams

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Healthcare Provider Update: Healthcare Provider for Motorola Solutions Motorola Solutions typically provides its employees with healthcare benefits through major national insurers, including UnitedHealthcare and Anthem. These providers are known for offering comprehensive health plans that include medical, dental, and vision coverage, aligning with the company's commitment to employee wellness. Potential Healthcare Cost Increases in 2026 As the Affordable Care Act (ACA) marketplace braces for record premium hikes in 2026, Motorola Solutions faces potential challenges in managing healthcare costs for its employees. With states like New York reporting increases over 60% and the possibility of enhanced federal subsidies expiring, many individuals could see their out-of-pocket premiums jump by more than 75%. This perfect storm of rising medical expenses and aggressive insurer rate hikes may significantly affect employee health costs, compelling the company to consider strategic adjustments in its benefits offerings to maintain workforce health and satisfaction. Click here to learn more

As for the Motorola Solutions employees and retirees, one must always be careful during tax time and throughout the year as well when it comes to tax scams,' says Tyson Mavar of The Retirement Group at Wealth Enhancement Group. 'This article provides a general overview of the most common types of scams and how to avoid them with the help of the IRS's recommendations.'

'The increase in tax scams during peak seasons calls for more caution among the Motorola Solutions employees and retirees,' says Wesley Boudreaux, a representative of The Retirement Group, a division of Wealth Enhancement Group. 'Knowing your tax responsibilities and using the IRS's recommended procedures are important steps in the protection of one's personal and financial information.'

In this article, we will discuss:

1. Types of Tax Scams: Different schemes including phishing, phone scams, and tax preparer fraud that target personal and financial information.

2. Preventive Measures: Tips to prevent scams such as checking the source and using protective measures such as the IRS Identity Protection PIN.

3. Consequences and Reporting: Discusses the effects of these scams and how to report them to the proper channels to minimize the effects.

These scams, as reported by the Internal Revenue Service (IRS), are more likely to occur during tax season and other times of economic uncertainty. As we are now in the middle of tax season, the Internal Revenue Service is sharing important information with taxpayers and urging them to be on the lookout for scam artists who may attempt to steal their identities.

According to the Federal Trade Commission (FTC), financial scams are most common among older people, and con artists often pose as trustworthy entities such as government agencies, charities, or healthcare providers. The FTC has reported that more than $1 billion was lost to fraud by consumers 60 years of age and over, with the median loss being $600. It is crucial for Motorola Solutions employees and retirees to know the following common tax scams that are likely to be encountered in order to avoid becoming a victim of them.

Phishing and text message scams

The first con that Motorola Solutions employees and retirees should be on the lookout for is phishing. Phishing and text message scams are unsolicited emails or text messages that appear to be from official IRS websites in an attempt to get you to share personal or financial info. When con artists get their hands on this information, they immediately use it to steal people's identities or their money. The Internal Revenue Service does not contact taxpayers through email, text messages, or any other form of social media communication requesting personal or financial information.

The Internal Revenue Service (IRS) most typically initiates communication with taxpayers through the regular mail delivered by the United States Postal Service. This information is very important and we would like all the Motorola Solutions workers and retired employees to be aware of it.

Phone scams

This means that Motorola Solutions employees and retirees need to be wary of fraudulent phone calls. The scammers will usually tell their victims that they owe the Internal Revenue Service (IRS) money, or that they are due a large refund from the IRS. The calls can show up on your Caller ID as coming from the Internal Revenue Service (IRS), they may be accompanied by phony emails that appear to be sent from the IRS, or they may be followed by calls from people claiming to be from the police.

These cons will often target more vulnerable populations, such as immigrants and the elderly, and will often use scare tactics like threatening to arrest you, revoke your license, or deport you.

Tax-related identity theft

Tax-related identity theft occurs when someone uses your Social Security number to file a fraudulent tax return and claim a refund. It is possible that you will not even notice that your identity has been stolen until you attempt to file your taxes and discover that someone else has already used your Social Security number to file a return. You may also receive a letter from the Internal Revenue Service informing you that it has detected a suspicious return that uses your Social Security number. The Internal Revenue Service (IRS) has recently put into place a program called the Identity Protection PIN Opt-In Program to help combat identity theft related to taxes. The Identity Protection PIN is a six-digit code that only you and the IRS know when you file your tax return.

This code assists the IRS in verifying your identity and helps reduce the chances of your return being accepted by a fraudulent filing. This preventative measure is something that Motorola Solutions employees and retirees can take in order to protect themselves against the possibility of their identity being stolen.

Tax preparer fraud

There are times when con artists will pretend to be a legitimate tax preparer in order to commit identity theft or fraud with your taxes and your refund. Motorola Solutions employees and retirees should be cautious of any tax preparer who: Refuses to sign the tax return (also called a ghost preparer), Accepts a cash-only payment, Claims unfounded deductions or tax credits, Has the refunds deposited into his or her account, or Promises a bigger or inflated refund than what is due.

In general, a legitimate tax preparer will also: Review your income and credits and deductions and request evidence of such; sign the return as the preparer; include his or her valid preparer tax identification number; and provide you with a copy of your return. In addition, they must be permitted to prepare tax returns. It is especially important for current and former Motorola Solutions workers and retirees to be careful when choosing a tax preparer. You are still going to be responsible for everything that is on your return even if your return was done by another person.

False offer in compromise

This type of scam is usually conducted by fraudsters whose goal is to steal the victim’s personal details and claim unemployment benefits. If you receive an unexpected prepaid card for unemployment benefits, if you notice an unexpected payment from your state in your bank account, or if you receive an IRS Form 1099-G for unemployment compensation that you did not apply for you should report it to your state’s unemployment insurance office.

Unemployment insurance fraud

As has been stated earlier, these cases are usually reported by con artists. Their goal is to use your personal information to file for unemployment benefits. If you receive an unexpected prepaid card for unemployment benefits, if you observe an unexpected payment from your state in your bank account, or if you receive an IRS Form 1099-G for unemployment compensation that you did not apply for, you should report it as quickly as possible to the state unemployment insurance office in your area.

Fake charities

Charity scammers pose as real charitable organizations in order to con money from people who are not aware they are being scammed. Most of the schemes are made to look realistic and timely, for instance, natural disasters, storms, or the COVID-19 pandemic. It is important that Motorola Solutions workers and retirees should be aware of the charitable groups whose names are similar to those of more known or national companies or organizations. It is always important for any form of donation in any form whether it be cash, gift cards, or electronic funds transfer to try and verify the charity and do not send physical cash. The IRS has a tool on its website at irs.gov/charities-and-nonprofits that can help you determine if an organization is a charity.

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Protecting yourself from scams

Luckily, there are some measures that Motorola Solutions workers and retirees can take to avoid different types of scams, including those aimed at taxpayers, in order to protect their financial well-being.

  • Do not click on links in emails, text messages, or instant messaging that are unfamiliar or look suspicious and always get information directly from the government websites.

  • If you don’t know the number of the person calling you, do not answer the phone; instead, let the call go to voicemail and check who it was later.

  • Never click on the download button in an email unless you know the source of the email.

  • Make sure that your hardware and security software are up to date and use strong passwords whenever possible, and where possible, enable multi-factor authentication.

  • Never send your personal or financial information through email, text message, or telephone in its natural form.

Sources:

1. Internal Revenue Service. 'Taxpayers Should Hang Up If Tax Season Scammers Come Calling.'  IRS , 2023.  www.irs.gov/newsroom/taxpayers-should-hang-up-if-tax-season-scammers-come-calling .

2. Internal Revenue Service. 'IRS Warns of Holiday Scams, Encourages Protecting Sensitive Personal Information as 9th Annual National Tax Security Awareness Week Starts.'  IRS , 2 Dec. 2024.  www.irs.gov/newsroom/irs-warns-of-holiday-scams-encourages-protecting-sensitive-personal-information .

3. Internal Revenue Service. 'Dirty Dozen: IRS Urges Taxpayers to Not Fall Prey to Untrustworthy Tax Preparers; 'Ghost Preparers' Can Disappear with Taxpayer Cash, Information.'  IRS , 5 Apr. 2024.  www.irs.gov/newsroom/dirty-dozen-irs-urges-taxpayers-to-not-fall-prey-to-untrustworthy-tax-preparers .

4. Internal Revenue Service. 'Taxpayer Alert as Holidays, Tax Season Approach: Watch Out for Scams, Protect Financial Information; National Tax Security Awareness Week, Day 1 Highlights Important Tips.'  IRS , 29 Nov. 2021.  www.irs.gov/newsroom/taxpayer-alert-as-holidays-tax-season-approach .

5. Internal Revenue Service. 'Recognize Tax Scams and Fraud.' IRS. www.irs.gov/newsroom/recognize-tax-scams-and-fraud.

What types of retirement savings plans does Motorola Solutions offer to its employees?

Motorola Solutions offers a 401(k) retirement savings plan to help employees save for their future.

How does Motorola Solutions match employee contributions to the 401(k) plan?

Motorola Solutions provides a company match on employee contributions, which helps enhance the overall savings for retirement.

What is the maximum contribution limit for the Motorola Solutions 401(k) plan?

The maximum contribution limit for the Motorola Solutions 401(k) plan is determined by IRS guidelines, which can change annually.

Can employees of Motorola Solutions choose how their 401(k) contributions are invested?

Yes, employees of Motorola Solutions can choose from a variety of investment options to allocate their 401(k) contributions based on their individual risk tolerance and retirement goals.

Is there a vesting schedule for the Motorola Solutions 401(k) match?

Yes, Motorola Solutions has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched contributions.

How can Motorola Solutions employees access their 401(k) account information?

Employees can access their 401(k) account information through the Motorola Solutions employee portal or by contacting the plan administrator.

What happens to my Motorola Solutions 401(k) if I leave the company?

If you leave Motorola Solutions, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Motorola Solutions plan if eligible.

Are there any fees associated with the Motorola Solutions 401(k) plan?

Yes, there may be fees associated with the Motorola Solutions 401(k) plan, which can include administrative fees and investment-related fees. Employees can review the plan documents for detailed information.

Does Motorola Solutions offer any educational resources for employees regarding retirement planning?

Yes, Motorola Solutions provides educational resources and workshops to help employees understand retirement planning and make informed decisions about their 401(k) savings.

Can Motorola Solutions employees take loans against their 401(k) savings?

Yes, Motorola Solutions allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Name of Pension Plan: Motorola Solutions Pension Plan Years of Service and Age Qualification: Employees generally qualify for the pension plan if they meet the minimum vesting requirements, which typically include a certain number of years of service. The age requirement usually aligns with standard retirement ages, but specific details can vary. Pension Formula: The pension formula is often based on a combination of years of service and average earnings. For Motorola Solutions, the formula used in 2022-2024 is detailed in the company's official plan documents. Name of 401(k) Plan: Motorola Solutions 401(k) Savings Plan Who Qualifies: Eligibility for the 401(k) plan typically includes all full-time employees. Specific details regarding enrollment dates and eligibility can be found in the plan documents.
Restructuring and Layoffs: Motorola Solutions has been undergoing restructuring as part of its strategic realignment. In 2023, the company announced a reduction in its global workforce by approximately 5% to streamline operations and focus on its core areas of growth. This restructuring aims to improve efficiency and profitability amidst economic uncertainties. Given the current economic climate and investment environment, such strategic adjustments are crucial for companies to remain competitive and adapt to market fluctuations. It is important for stakeholders to follow such developments to understand how these changes might affect job security and company performance. Company Benefits and Pension Changes: Motorola Solutions has also made adjustments to its employee benefits package and pension plans in response to the evolving economic landscape. In 2024, the company updated its 401k plan, including increased employer matching contributions to support employees' retirement savings. Additionally, changes were made to its pension plan to ensure sustainability amid economic challenges. These updates are significant as they impact employees' financial planning and security. Staying informed about these changes is vital in the current investment and tax environment, as it helps employees make informed decisions about their financial futures.
Motorola Solutions provided stock options and RSUs as part of their compensation packages. Employees eligible for stock options and RSUs typically include senior executives, key employees, and high-performing individuals. Motorola Solutions uses RSUs to align employee interests with company performance and shareholder value.
Benefits Overview: Motorola Solutions provides comprehensive health benefits to its employees, including medical, dental, and vision coverage. They offer plans with options for health savings accounts (HSA) and flexible spending accounts (FSA). There are also wellness programs and mental health resources. Key Terms/Acronyms: HSA (Health Savings Account), FSA (Flexible Spending Account), EAP (Employee Assistance Program), PPO (Preferred Provider Organization).
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For more information you can reach the plan administrator for Motorola Solutions at , ; or by calling them at .

https://www.thelayoff.com/ https://www.bloomberg.com/asia https://www.reuters.com/ https://pensionrights.org/ https://www.motorolasolutions.com/en_xp.html?geo=redirect

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