COVID-19 Stimulus Payment Scams – PART 2

With many taxpayers receiving their economic impact payments this week, it is important to be aware of scams targeting taxpayers.  The Internal Revenue Service is urging taxpayers to be on the lookout for these scams as criminals could utilize this stressful time to their advantage.

Here are some helpful tips from LifeLock on ways to spot a scam:

• Usage of phrases like “stimulus check” or “stimulus payment.” The official term is economic impact payment.
• Being asked to sign over your economic impact payment in exchange for receiving additional funds.
• Requests by phone, email, text or social media for verification of personal and/or banking information. Fraudsters may claim the information is needed to receive or speed up your economic impact payment.
  • The IRS will not call you asking you to verify financial information to expedite a payment.
• Being asked by someone for personal information in order to get an economic impact payment faster by working on your behalf.
• Being mailed a bogus check and asked to call or verify information online in order to cash it.
• Be wary of any email, text, phone call, or social media request for money or other personal identifiable information in exchange for receiving your payment more quickly.
• Never send money to someone else in the hope of receiving additional money. The scam artist may call this a deposit, an advance, or a processing fee. This is always the sign of a scam.
• Never give your personal or financial information over the phone.

If you suspect you are being targeted by a scam, you should report the scam to the Federal Trade Commission by clicking here.