Scammers and Fraudsters Seek To Capitalize This Tax Season: Some Scams and Schemes To Be Aware Of

Tax season is underway in the US. Furthermore, there is a huge backlog of tax returns, applications, and other paperwork at the IRS. This is as a result of the COVID-19 pandemic and various new tax rebates that were issued to help citizens cope. In addition to this, many of the IRS’s field offices remain closed to protect their employees and taxpayers from the pandemic.

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Detroit Free Press reports, all of this has increased the risk of fraud and identity theft during this tax season. This article will look at this situation in more detail and highlight some of the scams to watch out for this tax season. Read on if you are interested or want to remain vigilant.

Scammers And Fraudsters Are Opportunists

As scammers and fraudsters are criminals – they are opportunistic by nature. According to this online report, with the increase in tax returns or rebates available this year, there is an increase in scams and schemes to capitalize on them. According to the report, many of these criminals take advantage of stolen IDs to capitalize on tax breaks that have been increased as a result of the COVID-19 pandemic. This, taken together with the fact that there is a huge backlog at the IRS, has made this tax season nearly irresistible for fraudsters not to capitalize on. Therefore, it is very necessary to remain vigilant during this tax season. Let’s look at some ways how to do this.

Remaining Vigilant This Tax Season

To begin, getting your taxes filed with the IRS early, according to this report, is one of the best ways to, perhaps, prevent being a victim of fraud. However, many taxpayers might find that they are victims of identity theft and fraudulent claims. Scammers aim at capitalizing on, according to this news report, among other things – the extended child tax credit and the recovery tax rebate program. Let’s look at one of the main scams such criminals employ to gain such dishonest income.

Fraudulent Emails Using Phishing Scams

According to this news report, one of the main schemes used by these criminals is fraudulent emails claiming to be from the receiver. Usually, they will state that an amount is owed. The IRS has made it very clear that the latest phishing scams try to make their emails look like they are from professional tax collectors. For example, the subject might be – ‘Action Required: Your account has now been put on hold’. This news report has makes it very clear that you must not follow any of the actions included in such fraudulent emails even though they may use the IRS’s logo. Don’t even click on any links therein – as such action can compromise your personal tax information as well as data.

 

 

 

 

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