Tax Scams to Watch Out For

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Posted on 02/03/2010

It’s not quite as fun as swimsuit season, but some may dread it just as much. Tax season is here and whether that means refunds or writing big, fat checks to Uncle Sam, there are some tax scams you need to watch out for. But, we can vouch for the great deals over at the UltimateCoupons Tax Coupons page!


Fake Refunds - The IRS warns taxpayers to be on the lookout for emails promising refunds that don’t actually exist. The emails may refer to the economic recovery law saying that you could be eligible for a refund, as long as you register your bank account information with the IRS. But instead of giving your sensitive details to the IRS, you’ll be putting it in the hands of scammers.


Doctored Tax Forms - Another scam circulating this tax season involves Form W-8BEN. It’s a real tax form, but even though the person requesting you to fill it out claims they’re from the IRS, they’re not. The form requires personal financial details and should only be submitted through your financial institution. The IRS will never make this request.


Bogus Links - The IRS says some crooks are sending out emails promising tax refunds when you click a link contained in the email and fill out a form. The IRS says this is the most common type of tax refund scam. But remember the only way to get a refund is by sending in your tax return to the IRS—not by clicking some link you receive in an email.


Virus-Infected W-2s - A US online security vendor says they’ve seen a huge jump in Malware attacks. With hopes of hacking your sensitive information, the bad guys are sending out emails with fake W-2 forms attached. The email claims you need to open the attachment and update the tax form, but what you’re really opening is a key-logging Trojan that tracks your passwords and personal data. Use caution when opening any attachment, especially around tax time when scammers know you may be more willing to fork over financial information.


By Alison Storm


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