Beware: COVID-19 Tax Scams are Here

Economic impact payments bring out thieves

The IRS is warning you to be on the lookout for a surge of calls and e-mail phishing attempts related to the coronavirus pandemic and the one-time economic impact payment.

It can come in many forms

The IRS says that scammers may do the following when trying to contact you:

• Emphasize the words stimulus check or stimulus payment. If someone in an official capacity uses these terms your concern level should rise. The official term is economic impact payment.

 

• Ask you to sign over your economic impact payment check to them.

 

• Ask by phone, e-mail, text or social media for verification of personal information including your bank account information. The excuse given is that the information is being verified in order to send you your economic impact payment.

 

• Suggest that you can get a tax refund or economic impact payment faster by working with them on your behalf. This scam could even be conducted in person!

 

• Mail you a bogus check, then tell you to call a number or verify information online in order to cash it.

What you can do

• Be aware. Awareness is key. If it seems unusual, it probably is.

 

• Help the vulnerable. Seniors are often the target of these scams. So stay in touch with parents and grandparents as it relates to coronavirus activity. Tell them to let you know when they receive their payment. Make sure they understand that no personal information is required to receive these payments.

 

• Report suspicious activity. If you receive unsolicited e-mails, text messages or any other type of attempt to gather information that appears to be from either the IRS or an organization closely linked to the IRS (such as the Electronic Federal Tax Payment System, or EFTPS), you should forward it to phishing@irs.gov.

"Tax Tips" are published to provide current tax information, tax-cutting suggestions, and tax reminders. If you would like more information on anything in "Tax Tips," or if you'd like to be on our mailing list to receive other tax information from time to time, please contact our office.
 
The tax information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance.
 
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145 Tower Drive, Suite 4
Burr Ridge, IL 60527
Phone (630) 320-3720