Big Change Means Big Scams


Last week, the IRS sent out a reminder to taxpayers that COVID-19 has not slowed down criminal activity. In fact, the IRS is anticipating an increase in criminal activity.

In addition to the usual uptick in criminal activity in the spring months related to filing tax returns, criminals are now trying to take advantage of the uncertainty surrounding the new CARES Act and scam people out of their economic impact payments.

Scammers are particularly targeting retirees. If you are a retiree and don’t normally have a requirement to file a tax return, no action on your part is needed to receive your $1,200 economic impact payment. No one from the IRS will be reaching out to you by phone, email, mail or in person asking for any kind of information to complete your economic impact payment, also sometimes (though incorrectly) referred to as "rebates" or "stimulus payments." The IRS will send these $1,200 payments automatically to retirees – no additional action or information is needed on your part to receive this.

Additional warnings and signs of a scam can be found in the official communication here.

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Disclaimer: The information contained in this website is provided "as-is,"' with no warranties or guarantees. This information should not be considered as actual legal, tax or investment advice and you should always contact a certified accountant, a tax professional, or an attorney before making any financial decisions. While every attempt has been made to provide current and accurate information, neither the author nor the publisher can be held accountable for any errors or omissions. The user is solely liable for any and all reliance, use, or action on this information.