Tax Season Means Scam Season: What to Watch for
Tax Season Means Scam Season: What to Watch for
Tax season means a lot of things. It means organized taxpayers are already preparing their returns and getting ready for their refunds. It means disorganized taxpayers are scrambling to find everything they need just to start their returns. It means accountants are busy helping both organized and disorganized taxpayers file their returns. And it means procrastinators are shoving the very thought of taxes into the furthest regions of their minds. Indeed, tax season means a lot of things to a lot of different people. It also means taxpayers need to be on guard because tax season means scam season.
Be on the Lookout for Scammers
This is the busiest time of the year for scam artists to steal your tax refund, and even your identity, if possible. There are all kinds of tax scams to watch out for so you need to be prepared. Here are some tips to keep you informed and on alert, so you can avoid getting scammed out of your tax refund. It all starts with being aware of how the IRS actually operates. There are some things that the agency simply will not do. If you ever come across someone claiming to work for the IRS who tries to use one of these tactics, then you are dealing with a scam.
They Won’t Demand Payment
The IRS will not demand specific types of payments, such as wire payments, debit cards or gift cards. If you owe money you simply make a payment to the U.S. Treasury. The IRS also allows you to set up payment plans so the money is rarely due all at once.
They Won’t Ask for Personal Info or Account Numbers
The IRS will never ask for credit card or debit card numbers over the phone. If you ever get a call demanding tax payment then simply hang up. It’s a scam. You can make note of the number and send the information to the IRS at phishing@irs.gov.
They Won’t Threaten You
The IRS will never threaten to have you arrested or deported. The agency will not threaten to revoke your business license or driver’s license, either. The IRS will contact you via USPS to inform you of any issues. The letter will include instructions for the next steps. The IRS will also allow you to appeal any issues and they offer several ways to resolve these issues.
They Use USPS
The IRS will not generally contact you via telephone, social media, or email. They might call you but only after you have received a notification in the mail first. If you receive any emails, social media messages, or phone calls from someone claiming to work for the IRS, send the message to the IRS via email and then delete the message. Never click on any links in any of these messages. Likewise, do not open any attachments or give out any passwords. Avoiding a tax scam is not hard if you know what to look for. Follow these simple guidelines and your tax season should be a safe one.
We hope you found this article about “Tax Season Means Scam Season: What to Watch for” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Top Tips to Remember When You Can’t Pay Business Taxes
Business taxes can be a nightmare for a lot of companies; especially small businesses that are trying to stay afloat. Things can get even tougher when it comes time to file your return and you end up on the wrong side of the ledger. So what should you do if you end up owing more…
First Half of Current Fiscal Year a Record-Breaker for U.S. Treasury
It’s been another record year for the federal government so far, which is in the midst of its current fiscal year. At the end of March, when the government reached its halfway point of the 2016 fiscal year, it had already collected $1.48 trillion. One might think that this massive haul would help ease the…
Why Is Almost Half the Country Paying no Federal Income Tax?
One of the biggest tax debates that will likely always exist is whether or not the nation’s wealthy are paying enough in taxes? It’s easy for some to argue that they don’t but there are many factors that must be considered. Plus, all the while, nearly half of the country’s would-be taxpayers don’t actually pay…
Where Is Your Paycheck Going?
While many of the nation’s high net-worth individuals make much of their income through capital gains, those who still collect a paycheck are doling out of cash to the IRS every time they get paid. The same is true for all taxpayers no matter what income level they fall in. In fact, according to a…