Watch out for Stimulus Check Scams

March 30, 2020

Dear Client,

We are writing to alert you about warnings from the IRS about a dramatic increase in scams, fraud and identify theft all related to the ongoing coronavirus COVID-19 crisis.

You can find detailed information on the IRS website about these ongoing scams, and we urge you to review the IRS recommendations to help avoid falling victim to any of this fraudulent activity.

According to IRS Commissioner Chuck Rettig: “The IRS isn't going to call you asking to verify or provide your financial information so you can get an economic impact payment or your refund faster. That also applies to surprise emails that appear to be coming from the IRS. Remember, don't open them or click on attachments or links.”

The IRS reminds taxpayers that scammers might:

• Emphasize the words “Stimulus Check” or “Stimulus Payment.” The official term is economic impact payment.
• Ask the taxpayer to sign over their economic impact payment check to them.
• Ask by phone, email, text or social media for verification of personal and/or banking information saying that the information is needed to receive or speed up their economic impact payment.
• Suggest that they can get a tax refund or economic impact payment faster by working on the taxpayer’s behalf. This scam could be conducted by social media or even in person.
• Mail the taxpayer a bogus check, perhaps in an odd amount, then tell the taxpayer to call a number or verify information online in order to cash it.

Go to www.IRS.gov for the most up-to-date information.

Sincerely,

The Team at Tax and Financial Solutions