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Archive for IRS Scam

IRS Warns Of Variation Of Form W-8BEN Scam

Washington – The Internal Revenue Service today warned of a new twist tied to an old scam aimed at international taxpayers and non-resident aliens. In this scam, criminals use a fake IRS Form W-8BEN to solicit detailed personal identification and bank account information from victims.

Here’s how the scam works. Criminals mail or fax a letter indicating that although individuals are exempt from withholding and reporting income tax, they need to authenticate their information by filling out a phony version of Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting. Recipients are requested to fax the information back. Read more

Summit Partners Warn Tax Pros To Be On Alert; Step Up Security Measures

WASHINGTON – The IRS, state tax agencies and the tax industry warned tax professionals to be alert to taxpayer data theft in the final weeks of the tax filing season. The Security Summit partners urged tax professionals to enhance their data safeguards immediately.

In recent days, the “New Client” scam has re-emerged, signaling ongoing attempts by cybercriminals to target tax professionals with spear phishing schemes. Read more

IRS Alerts Taxpayers About Refund Scam

The IRS warns taxpayers of a new twist on an old scam. Criminals are depositing fraudulent tax refunds into individuals’ actual bank accounts, then attempting to reclaim the refund from the taxpayers.
Here are the basic steps criminals follow to carry out this scam. The thief:

• Hacks tax preparers’ computers to steal taxpayer data.

• Uses the stolen information to file tax returns as the taxpayers.

• Has refunds deposited into taxpayers’ bank accounts. Read more

An Unexpected Refund From The IRS Spells S-C-A-M

If you happen to notice an automatic deposit made in your bank account from the IRS or you get a refund check in the mail that you weren’t expecting, you are likely the victim of the latest tax scam.

On February 13th, the IRS released a warning to alert taxpayers to a fast growing new scam that uses stolen taxpayer’s information to fraudulently file taxes then deposit refunds into real bank accounts.

Once Deposit Is Made, The Criminals Make Contact

The IRS makes it clear that the criminals use a variety of tactics to get the fraudulent refund from the taxpayers. And, as the IRS points out the tactics are probably evolving, so you’ll want to stay alert.

In one version of the scam, criminals posing as debt collection agency officials acting on behalf of the IRS contacted the taxpayers to say a refund was deposited in error, and they asked the taxpayers to forward the money to their collection agency. Read more

IRS Alerts Taxpayers About Refund Scam

The IRS warns taxpayers of a new twist on an old scam. Criminals are depositing fraudulent tax refunds into individuals’ actual bank accounts, then attempting to reclaim the refund from the taxpayers.

Here are the basic steps criminals follow to carry out this scam. The thief:

  • Hacks tax preparers’ computers to steal taxpayer data.
  • Uses the stolen information to file tax returns as the taxpayers.
  • Has refunds deposited into taxpayers’ bank accounts.
  • Contacts their victims, telling them the money was mistakenly deposited into their accounts and asking them to return it.

Read more

Millennials Are More Likely To Fall For An IRS Scam

(Bloomberg) “You must pay your taxes immediately, or else,” an ominous voice on the other line says before demanding a credit-card number. Most Americans roll their eyes and hang up on these scam calls, but thousands have fallen victim, and millennials are more susceptible than older generations, a new study finds.

Millennials are less likely than Gen Xers or Baby Boomers to receive tax scam phone calls, according to a recent survey, but they were six times more likely than older generations to give the scammer their credit-card numbers, and twice as likely to give their Social Security numbers. Read more