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What You Should Know About Tax And Truth In Advertising: What You Should Know

FTC Tips For Successful Online Advertising | Federal Trade Commission March 24, 2023 — The IRS has long required Americans to provide detailed proof if they are claiming a tax credit for contributions or free items to charity. However, the requirement has recently been relaxed to permit an increase  IRS Expands Form 8802 Disclosure Requirements For Non-Federal Employees (NFS) | IRS Dec 23, 2023 — The Department of Labor is requiring all federal contractors to disclose to their employees the following: Advertising Disclosure Law for NFS — NAPE October 5, 2023 — All online retailers are required to register with the U.S. Digital Trade Association to ensure that they comply with the FTC's Choices program. Adopting the Government's Consumer Privacy Principles October 5, 2023 — The FTC and the IRS are adopting a privacy framework for providing consumer protection in the online marketplace. The new framework ensures that consumers are clearly able to access and make informed decisions about their digital dealings — and protects consumers' right to receive free from inaccurate information about privacy, security, and data collection. FTC Privacy Framework Adopted by the Federal Trade Commission and the Internal Revenue Service Oct 28, 2023 — The FTC today adopted a privacy framework for providing consumer protection in the online marketplace.

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FAQ - What You Should Know About Tax And Truth In Advertising

What are truth in advertising standards?
When consumers see or hear an advertisement, whether it's on the Internet, radio or television, or anywhere else, federal law says that ad must be truthful, not misleading, and, when appropriate, backed by scientific evidence.
What is truth and accuracy in advertising?
Truth in advertising is the FTC-enforced concept of being truthful and accurate about products and services offered. The FTC can issue fines or penalties to businesses that fail to follow truth in advertising standards.
Why is truth important in advertising?
The first reason it's important to practice truth in advertising is that it manages expectations. You want potential customers to know exactly what you're offering. If they show up and it turns out you promised more than you can deliver, they're going to leave, and it's going to hurt your reputation.
What is an example of a truth in advertising statement?
What Exactly Do Truth in Advertising Laws Do? Essentially, these laws prohibit lying in advertisements. For example, if you say that a product costs a certain amount during a specified period of time, your store has to have this particular item for sale at that price.
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