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Smith School News

November 17, 2025

Ghosts in the Classroom: How AI Fraud Is Haunting College Campuses

As International Fraud Awareness Week marks 25 years, the Smith School’s Samuel Handwerger warns that AI is fueling both false cheating accusations and large-scale “ghost student” financial-aid fraud—revealing how technology now endangers academic integrity, accountability, and public trust.

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October 23, 2025

UMD Justice for Fraud Victims and State’s Attorney Partner to Fight Financial Crime in Frederick

The University of Maryland’s Justice for Fraud Victims program is partnering with the Frederick County State’s Attorney’s Office Economic Crimes Unit to fight financial crime, following a successful Prince George’s County collaboration, providing forensic accounting and courtroom support for investigations.

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September 21, 2025

TerpTax: Social Media Tax Scam Epidemic

Sam Handwerger warns that TikTok is spreading 2025 tax scams, from fuel credit claims to fake W-2s and bogus self-employment credits. With AI voice cloning adding risks, the IRS created CASST and issued alerts urging caution over online tax advice.

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July 10, 2025

Uncle Sam's Birthday Gift: How Trump Accounts Could Change the Game for Young Families

Trump Accounts, introduced in the 2025 “One Big Beautiful Bill,” offer newborns $1,000 in government-seeded savings accounts for births between 2025–2028. Families can contribute up to $5,000 yearly with tax-free growth and flexible future-use options.

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June 23, 2025

TerpTax: A Guide to NIL Taxes

NIL deals offer student-athletes new income—but also tax obligations. Smith lecturer Samuel Handwerger explains how earnings are taxed, what to watch for, and why planning, record-keeping and resources like TerpTax are key to staying financially and legally safe.

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June 5, 2025

TerpTax: When Your 'Internship' Makes You an Independent Contractor

Interns misclassified as independent contractors can face unexpected tax burdens and loss of protections. Samuel Handwerger advises students to clarify work terms, consider negotiating pay, and understand the financial responsibilities tied to independent contractor status.

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June 4, 2025

Criminal Calculations

University of Maryland students in the Justice for Fraud Victims Project aided police in a high-profile murder case, analyzing financial records to help establish motive. Their work contributed to a first-degree murder conviction and life sentence.

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May 5, 2025

When Tax Scams Hit Home: What to Know About Theft Loss Deductions

Samuel Handwerger, CPA and TerpTax faculty advisor, explains how victims of investment scams may qualify for theft loss tax deductions under IRS rules. He outlines key eligibility criteria, recent IRS guidance, and the importance of intent, documentation, and expert advice.

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April 25, 2025

When the IRS Comes Knocking: Understanding 501c3 Status Revocation

By Samuel Handwerger, CPA, Faculty Advisor for TerpTax

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March 25, 2025

TerpTax: Understanding Form 1099-K

Samuel Handwerger, faculty advisor for TerpTax, explains Form 1099-K—an IRS record for online sales and payments through apps. Understanding taxable income, tracking expenses, and correcting errors can save headaches. Keep good records and report income accurately to avoid issues.

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External Articles

Tax Insights and Fraud Awareness
The Spy in Your Pocket (Pegasus spyware)
By Samuel Handwerger

Expert reveals 5 simple tips for creating a sustainable budget in 2026
Michael McMillan, a professor and co-director of the Financial Wellness Center at the University of Maryland, shared five simple tips with The Independent for creating a sustainable personal budget.

WalletHub’s Ask the Experts
Budgeting and Happiness
By Michael McMillan

WalletHub’s Ask the Experts
Why Your Credit Card Might Be Your Best Defense Against Fraud
By Samuel Handwerger

WalletHub’s Ask the Experts
Strategically Allocating Your Spending Using Percentage-based Goals
By Michael McMillan

Investopedia
How Does Your Household Income Compare to Others in Your Age Group?
By Sara Clarke

WalletHub’s Ask the Experts
Loud Budgeting
By Michael McMillan

Black Friday v. Red January
By Michael McMillan
Black Friday marks holiday spending, but “Red January” brings financial stress from overspending. The article urges college students to budget, plan gift lists, shop early, limit credit card use, and be creative to avoid debt and post-holiday financial strain overall.