- Days left
The economy isn't the only thing getting a (alleged) boost from the government's economic stimulus checks, being sent out to taxpayers beginning this past week. The political windfall is also stimulating a lot of creative fraud as well.

According to story on MarketWatch, scammers are calling and emailing consumers posing as the IRS or the Social Security Administration. The callers tell consumers they need detailed bank account information or Social Security numbers in order to process their economic stimulus checks. Those consumers who fall for the scam and reveal this information are then subject to identity theft.

The story recommends some steps consumers can take to prevent getting so scammed.
  • Don't ever give out personal information such as bank account numbers, Social Security number or Mother's Maiden name to unsolicited callers.
  • Keep in mind that the IRS will NEVER call you in regards to the stimulus package. The Social Security Administration is unlikely to call you out of the blue, either. Also, remember that you'll only get a check if you filed a tax return this year.
  • Don't click on any links in unsolicited emails -- they may take you to a fraudulent site. Fraudsters these days can create very sophisticated websites that look almost like the real thing. Once there, they will prompt you for information. Don't give it out. If you want to go to the actual IRS site, go to www.irs.gov.
  • If someone calls you and says they're from a government agency, hang up, and call the agency yourself. The FTC keeps a list of government agencies and contact numbers here.
If you filed a tax return this year, be patient -- the check is in the mail, as they say. Wondering when you'll get yours? Check here to find out.


Increase your money and finance knowledge from home

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

TurboTax Articles

Tax Exemptions and Deductions for Families

Families can often save more on their taxes than a single person. We'll help you understand who you can claim as a dependent, and which family-related deductions and exemptions will give you the greatest tax benefit.

Buying Your First Home

Buying your first home is a huge step, but tax deductions available to you as a homeowner can reduce your tax bill.

5 Hidden Ways to Boost Your Tax Refund

Most of us are looking for ways to pay no more than we owe in taxes, or even boost our tax refunds. Here are five strategies that go beyond the obvious with tried-and-true ways to reduce your tax liability.

What Is a 1099-G Tax Form?

The most common use of the 1099-G is to report unemployment compensation as well as any state or local income tax refunds you received that year.

Can I Claim Medical Expenses on My Taxes?

Medical expenses can take a bite out of your budget, especially if you have unforeseen emergencies that are not fully covered by your insurance. The Internal Revenue Service allows taxpayers some relief, making some of these expenses partly tax-deductible. To take advantage of this tax deduction, you need to know what counts as a medical expense and how to claim the deduction.

Add a Comment

*0 / 3000 Character Maximum