Reminder! Tax Scams You Need To Be Aware Of

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Although the tax deadline is only a few weeks away, there is still plenty of time to be targeted by scammers who are looking to get a little extra out of you during this tax season. Earlier this month, we warned our readers about three of the most common tax scams that we often hear about, and today, we're here to remind you about them and share our recommendation for what you should do if you think a scammer is coming after you; read more below.

Common Tax Scams

While some tax scammers may use an original approach, three of the most common that people experience are: 

1. Phony phone calls
2. False links in emails
3. Frivolous arguments

One of the most important things to remember is that the IRS' preferred form of communication is U.S Mail, so if you ever get a phone call or an email from someone who claims to be a representative, approach it with much caution. And remember, the IRS will never ask you for your financial information over the phone, require you to pay without actually sending you a bill, demand payment without giving you the opportunity to ask questions or insist that you use a certain method to pay your taxes - if either of these situations present themselves to you, hang up and/or ignore the email.

Another important thing to remember is that the IRS will never threaten you with arrest. Scammers will often make you think that legal action will be taken against you if you do not comply with their request, but that is an immediate sign that you are dealing with someone who is falsely representing themselves.

Where frivolous arguments are concerned, we'd all love to be told that we are exempt from filing taxes, but the truth is that we are all required to file no matter what, so if someone positions you as the "lucky one" this year, don't fall for it!

Actions To Be Taken

If you suspect that you're being targeted by a scammer this tax season, the best thing to do is to contact your financial planner so that they can confirm if what you're being told is true or false. Then, let the IRS know about it - here is a list of things you should do if you receive IRS-related communication that seems rather suspicious.

Whether you actually experience a tax scam or not, know that we at American Investment Planners LLC want to see you and your information protected at all times, and we can help! To learn more about our financial planning services, please visit our website or give us a call at (516) 932-5130 today.