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Watch Out for New Versions of Tax Scams

Watch Out for New Versions of Tax Scams - The Beacon

03-2018

By: Andrew Erk

Watch Out for New Versions of Tax Scams

Here we are again, scammers have found new ways to take advantage of you by stealing your information and money through fake tax filing and fake tax return deposits.

According to the Federal Trade Commission (FTC), scammers are now filing a fake tax return and depositing the funds into your bank account. Once the money has been deposited into your bank account, they will reach out to you, most of the time by phone, and pretend to be a debt collector for the IRS or an IRS employee. They will then demand you return the money back to the IRS and provide instructions for doing so, but in reality, the instructions will guide the money directly to the scammer’s bank account.

In a slight variation, scammers may also reach out, after you receive the erroneous refund, and threaten you with fraud charges, an arrest warrant or to “blacklist” your social security number. In an effort to add further credibility to the story, they will provide you with a case number and telephone number to call to return the refund.

As always, it is best to ask questions and research what you are being told before acting on anything. If you, or someone you know, gets a sudden refund that you didn’t expect, please follow the tips provided by the IRS to properly return the funds.

The FTC has also provided information on how to properly prevent tax identity theft (click here for more):

If you locate a scam, report it to BBB ScamTracker and to the FTC, here.

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Andy

Andrew Erk is our Trade Practice Assistant. He writes about business trends and consumer news and is also our social media, graphic design and digital guru.