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10/15/2024
Stolen Refund Scam: Last-Minute Filers Beware
CBN
Last-minute tax filers could be opening themselves up to becoming victims of fraud. The IRS warns that scammers often prey on tax procrastinators.
It's called the 'stolen refund scam.' Last year alone, more than a 100,000 victims filed complaints.
According to the IRS, thieves are stealing people's Social Security numbers, filing false tax returns, and then collecting the refunds.
"They get a letter from the IRS with a thank you note or a confirmation that the money has already been deposited and they haven't filed yet. That's typically how they find out," John Pollock, a tax and financial strategist, explained.
Victims can still get their refunds, eventually. But first, they'll face a red-tape nightmare.
"First of all, they need to call the IRS and carve out some time because it's going to take a while for them to spend some time on the phone and let the IRS know what happened," Pollock warned.
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