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03/29/2018

Fake Refund Checks Landing in Taxpayer Bank Accounts

So, you’re so excited to have received a surprise tax refund deposited directly into your checking account!  Oops.  Watch out…a new tax scam alert has been issued involving the deposit of fake refunds into bank accounts followed by telephone calls with threats from bogus collections officials.

An IRS Security Summit alert has been issued warning about this new scheme where it appears unsecured tax preparer computer files have been breached.  The number of reported taxpayer victims has jumped from a few hundred to several thousand in just a matter of days leading to the alert.

Tax scam alert fake tax refundsThe IRS Criminal Investigation Division reports that after stealing client data the scammers file fraudulent tax returns claiming tax refunds.  When the refund checks are deposited into the taxpayers’ real bank account, the thieves begin contacting the innocent taxpayers by telephone, claiming they are a debt collection agency hired by the IRS to collect the fraudulent tax refund dollars.  Investigators say the versions of this scam continue to evolve as the criminals come up with new ways to get cash from taxpayers.

In one version of the scam, a voice recording claims a refund was deposited in error and now the taxpayer must forward the money to a collection agency or face criminal fraud charges, an arrest warrant and a “blacklisting” of their Social Security Number.  The recording gives the taxpayer a case number and a telephone number to call to return the refund.

Taxpayers who may have received a refund they did not expect should contact their tax preparer immediately.  They must also contact their bank if a direct deposit was received and instruct the bank to issue a refund to the IRS as the taxpayer contacts the IRS to explain why the deposit is being returned.  Be mindful that both individuals and businesses have been victims of this scam, so deposits to business bank accounts should also be reviewed.

If a taxpayer has received an unexpected paper refund check, they should not deposit it nor cash it, but rather write “void” in the endorsement section on back of the check and contact tax authorities right away.

Be mindful that the IRS never uses an outside collection agency to collect any tax debt, and payments should never be made to any source other than the Treasury Department.

If you think you may have been a victim of this new scam and need more information you may review the IRS notice online or contact one of our tax preparation experts at McRuer CPAs for more information.

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