Tax season is a busy time, and unfortunately, it’s also a prime opportunity for scammers and fraudsters. At Aeroquip Credit Union, your financial security is our top priority. This article aims to equip you with the knowledge and tools needed to recognize and avoid tax-related scams, helping you protect your hard-earned money and personal information.

 

 

The Rising Threat of Tax Fraud

Tax fraud can take many forms, from identity theft to fake IRS communications. Scammers are becoming increasingly sophisticated, using various methods to trick individuals into providing personal data or sending money. It’s crucial to stay vigilant and informed to protect yourself.

Common Tax Scams to Watch Out For:

  1. IRS Impersonation Scams:

    • How They Work: Scammers pretend to be IRS agents or officials, often contacting you by phone, email, or text. They may threaten you with arrest, lawsuits, or other legal action if you don't pay immediately.

    • Red Flags:

      • Aggressive, threatening language.

      • Demands for immediate payment via prepaid debit cards, gift cards, or wire transfers.

      • Requests for personal information, like your Social Security number, over the phone or by email.

      • Unsolicited communications from the IRS. The IRS typically communicates via mail.

  2. Phishing Emails and Texts:

    • How They Work: Scammers send fraudulent emails or text messages that look like they are from the IRS or tax preparation services. These messages often contain links to fake websites that can steal your personal information.

    • Red Flags:

      • Generic greetings (e.g., "Dear Customer" instead of using your name).

      • Spelling and grammatical errors.

      • Urgent requests to click on a link or download an attachment.

      • Suspicious sender email addresses or phone numbers.

  3. Fake Tax Preparers:

    • How They Work: Scammers pose as tax preparers or accountants, promising large refunds or other benefits. They may use your personal information for their own purposes or file fraudulent returns.

    • Red Flags:

      • Unlicensed or unaccredited tax preparers.

      • Preparers who guarantee large refunds.

      • Those who ask you to sign a blank tax form.

      • Preparers who don't provide a physical address or phone number.

  4. Identity Theft:

    • How They Work: Scammers steal your personal information (such as your Social Security number) to file a fraudulent tax return and claim your refund.

    • Red Flags:

      • Receiving a tax return or refund you didn't file.

      • Being unable to file your taxes online because someone has already filed using your Social Security number.

      • Receiving IRS notifications about accounts you didn't open.

 

 

Tips to Avoid Tax Scams:

  1. Be Skeptical of Unsolicited Communications: The IRS will not call, text, or email you out of the blue. If you receive a suspicious message, contact the IRS directly using official channels.

  2. Never Share Personal Information: Do not give out your Social Security number, bank account details, or other sensitive information to anyone over the phone, via email, or on a suspicious website.

  3. Verify Tax Preparers: Only use trusted and reputable tax professionals with proper credentials. Check their credentials with the appropriate licensing boards.

  4. Protect Your Computer and Mobile Devices: Keep your anti-virus software up-to-date, avoid clicking on links in suspicious emails or texts, and be cautious when using public Wi-Fi.

  5. Use Secure Filing Methods: Consider filing your taxes electronically using trusted software or a reputable tax preparer.

  6. Keep Your Documents Secure: Store your tax documents in a safe place and do not leave them where they can be easily accessed by others.

  7. Be Aware of Common Scams: Stay informed about the latest tax scams by checking official sources like the IRS website and other reputable financial news outlets.

 

 

What to Do if You Suspect a Tax Scam:

  • Contact the IRS: If you think you've been a victim of a tax scam, report it to the IRS.

  • File an Identity Theft Report: If your identity has been stolen, file a report with the Federal Trade Commission (FTC).

  • Notify Aeroquip Credit Union: If you think your account might be compromised, contact us immediately.

  • Monitor Your Credit Reports: Regularly check your credit reports to look for any unusual activity.

 

 

Aeroquip Credit Union is Here to Help:

Your financial well-being is our priority. We encourage all our members to be vigilant this tax season and to reach out to us with any concerns. We're committed to providing secure and reliable financial services.

 

Tax season can be a vulnerable time for fraud. By staying informed, being cautious, and following our tips, you can protect yourself from tax scams. Remember, if something seems too good to be true, it probably is.

 

 

 

Exclusive Member Rewards for Tax Prep

We’re always looking for ways to help our members save money, especially during tax season. That’s why we've partnered with Love My Credit Union Rewards to bring you special deals on tax preparation software:

  • TurboTax: Through Love My Credit Union Rewards, members can access exclusive discounts on TurboTax products. This can help you save money while preparing your taxes with ease.

  • H&R Block: Similarly, we’re offering special deals on H&R Block products through Love My Credit Union Rewards. Enjoy reliable tax prep services with a member discount.

These partnerships allow you to file with reputable tax services while keeping more of your money in your pocket.

 

Learn More About Member Tax Prep Deals:

 

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