Tax Frauds Targeting Taxpayers’ Refund

Posted on April 22, 2022

Tax Frauds Targeting Taxpayers’ Refund

With tax filing season over, most taxpayers believe the threat of tax fraud is over as well but the reality is that tax frauds use the tax downtime to make quick money. After tax season, frauds begin to target taxpayers who have yet to file, or filed for an extension and are due refunds.

Late-filers are often in a hurry to file their tax returns and are highly susceptible to fraud. When having their tax returns prepared, late-filers should still double-check the details of their return, including Social Security Numbers and tax filing status before filing the return. It is best to file a tax return through the IRS’ e-filing portal for greater safety.

Tax payers often let their guard down when preparing their taxes late. However, it is still vital they check the details on their return to avoid becoming a victim of tax theft.

Tax frauds use various methods to steal money from taxpayers, including claiming fake charitable donations, posing as tax preparers, and creating fake websites to steal tax identities.

Verification for confirming identification must be done by taxpayers before sharing information or funds during tax season and after it. Remember tax frauds are always actively looking for their next victim.

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