LGT's Profit Sense

With tax season upon us, it is important to be up to date on new tax scams that affect taxpayers. Many current scams involve new twists on the same old scam. The most prevalent one to be aware of for 2018 is a pervasive new telephone scam. Individuals are using taxpayer information to file false returns, sending the refund directly to the taxpayer. The taxpayer then receives a telephone call from an individual pretending to be with the IRS or in another position of authority and demands that the taxpayer returns the refund to a specified address due to an error.

It is important for taxpayers to know that more likely than not, should there be an error with your account, the IRS will send a letter via postal mail instead of contacting you via telephone. However, if you do receive this type of telephone call it is important to contact your tax professional immediately to figure out what the next step should be.

For more information on this scam head over to the IRS website.

Learn about seven scams to be aware of this year.