The IRS has released its list of the top tax scams for the 2021 tax season. Be on the lookout for these schemes, and protect yourself from being scammed. The best way to do this is by knowing what to look out for and being diligent about what phone and emails you answer. In this blog, we will cover the common 5 scams that Americans are exposed to.
Scam #1 – IRS Impersonation Emails
This scam is a tried and true phishing scam. The is scam is not just limited to the tax-related issue but becomes very common during tax season. The email is designed to fool you into thinking it is from the IRS and there is a problem with your tax return. They contain links to a very realistic website spoofing IRS website. The scams often ask for personal information, including user name, password, credit card numbers, or even an account number. Do not reply to these scams. If you respond, they can use that information to make it impossible to file your taxes electronically. If you are not sure if an email is from the IRS, forward the message with its header to phishing@irs.gov, then delete it.
Scam #2 – Claiming to Suspend Your SSN
The new twist on this very old scam is the caller threatens to "Suspend" or "Cancel" your social security number. Your social security number can not be canceled. Posing as agents of the IRS, they will, of course, ask you to return a call. They are not from the IRS. Hang up and quickly block the number.
Scam #3 – Taxpayer Advocate Service calls
AH, this is a new one since 2021 that has come into the spotlight. You will receive a call claiming to be from the Taxpayer Advocate Service (TAS). The scammers got smart with one. TAS is a legit independent company part of the IRS. As with the IRS, they do not call you first. You must be the one who initiates a conversation. Hang up and block the call or email.
Scam #4 - "Tax Transcript emails"
This scam showed up around 2018, and again it is impersonating the IRS. The scam is very concerning for businesses. You see, the email contains, you guessed it, malware in its links. The malware is generally a popular one known as Emotet. It attacks the host computer stealing many different kinds of information related to your accounts. It is popular for scammers to target financial institutions. A subject line containing a subject such as "tax transcript" is made to look like a real IRS email and, hence, important. Employees download the document, and boom the malware is set free to wreak havoc on the whole network, causing months of headaches to remove.
Scam #5 – "Ghost" Tax Return Preparers
Just like it may sound, you go to a trusted source to file your taxes. You pay them good money, yet they do not sign your return. They instruct you to either mail or e-file them yourself. Thus if anything is incorrect, they hold no responsibility. They have no credentials and may claim false deductions and income, leaving you in a mess with the IRS. All they are after is what money they get out of you.
Welcome to the newest and oldest scams for the 2021 tax season! We will be updating with new scams as they come up, so stay tuned!
All information sourced from: https://www.irs.gov/newsroom/tax-scams-consumer-alerts
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