Unfortunately, many unscrupulous operators seek to take advantage of others when it comes to tax time. The pandemic of 2020 has created some additional issues that make it easier for scammers to target Americans. It’s important for the people of Texas to be aware of the biggest tax scams for 2020.
Phishing remains one of the biggest scams. This occurs when a fake yet official-looking email arrives purporting to be from a bank or the IRS. Organizations like banks and the IRS will never ask people to confirm their PINs or passwords over email. People who receive questionable emails should call the number on their bank cards to verify they’re legitimate. The IRS does not use email to reach out to taxpayers.
A second, more COVID-related scam is related to the increased number of people working from home. Some scammers are going after payroll and HR professionals. Away from the increased security of workplace networks, it’s easier for them to pull this off. Some of these scams are also frighteningly plausible. For example, in some cases, they’re asking to change where a direct deposit gets routed to. It’s a good idea to confirm with the employee in question over the phone before processing these types of requests. These are serious crimes; the FBI often investigates these scams when they occur.
A final common scam is when companies offer Americans the opportunity to settle their tax debts. They often use the phrase “for pennies on the dollar.” These offers are sent out in bulk, and the programs may not meet the taxpayer’s needs. That won’t stop the business from charging them exorbitant fees. It’s generally a better idea to consult an attorney experienced in tax law. They can help identify the root of the problem and find possible solutions. These advocates are actually used to dealing with the IRS too.