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Popular Scams to Look Out For Part 1

The IRS released their list of Dirty Dozen tax scams that taxpayers should be aware of. They list some of the top scams as the following:

• Phishing – fake emails and websites designed to steal your personal information. The IRS will never initiate contact via email regarding a tax bill, refund, or Economic Impact Payment.
• Fake Charities – Be aware of these when a natural disaster hits or other situations such as COVID-19.
• Threatening Impersonator Phone Calls – The IRS will never threaten arrest, deportation, or license revocation if you don’t pay a fake tax bill.
• Social Media Scams – Scammers can get information about you via social media and use it against you such as impersonating your family member, friend, or co-worker.
• Economic Impact Payment or Refund Theft – Scammers try to steal your identity to have your Economic Impact Payment of your tax refund diverted into their bank account. This is a good reason to file your tax return as soon as you can so you the scammers do not have the opportunity to file a false tax return using your information.
• Senior Fraud – Seniors have often been a popular target for scammers in an attempt to take advantage of them.

Please consult your tax advisor on all the above information.

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