- Days left

Consumer Ally Scam Alert: It's Not the IRS Asking for W-2 Info

w-2 scam w2If you get an email claiming to be from the IRS telling you that you need to submit information for your W-2, it is a scam intended to trick people into sending their personal information to identity thieves.

The Better Business Bureau issued a warning today about this new scam.

Consumers receive an email supposedly from the IRS warning them that they have not submitted their W-2 form and giving them a link to click to input the information. The IRS will not email you. They will send a letter if they need more information. And W-2 forms are submitted by employers, not taxpayers.

"This is a new identity theft scam that the BBB has not seen before," Janet C. Hart, a spokeswoman for the BBB in Charlotte, N.C., said in a statement "However, it is very timely and relevant information because employers have until Jan. 31, 2011, to get your W-2 form to you. So consumers could easily think it's real and wind up as victims of identity theft."

There have been several IRS scams before. Sometimes the email comes from the "Treasury Department" stating that a refund or tax inheritance is waiting and the consumer needs to provide personal information. A link or an attachment is often included, sometimes leading to an official-looking form.

Here are some tips to help you recognize a scam:
  • If the IRS needs information, they will send a letter. You will NOT be asked to send information through email.
  • Do not click on any links in unknown emails. It could infect your computer with viruses and spyware.
  • Do not give out personal information, including SSN, home address and birth date to anyone who emails or calls you.
  • If the email has a lot of punctuation and spelling errors, that's a heads up that it's probably not an official letter.

Increase your money and finance knowledge from home

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

Building Credit from Scratch

Start building credit...now.

View Course »

TurboTax Articles

Cities with the Lowest Tax Rates

The total amount of tax you pay reaches far beyond what you owe the federal government. Depending on where you live, most likely you're required to pay additional taxes, including property and sales tax. The disparity between the amount of tax you pay in a low-tax city and that in a high-tax city can be dramatic. Living in any of these 10 cities could save you a bundle, although the exact amount may fluctuate based on your income and lifestyle choices.

Cities with the Highest Tax Rates

Much ado is made in the press about federal tax brackets, but cities can carry a tax bite of their own. Even if you live in a state that has no income tax, your city may levy a variety of taxes that could eat away the entire benefit of living in an income tax-free state, including property taxes, sales taxes and auto taxes. Consider all the costs before you move to one of these cities, and understand that rates may change based on your family's income level.

Great Ways to Get Charitable Tax Deductions

Generally, when you give money to a charity, you can use the amount of that donation as a deduction on your tax return. However, not all charities qualify as tax-deductible organizations. While there are many types of charities, they must all meet certain criteria to be classified by the IRS as tax-deductible organizations. There are legitimate tax-deductible organizations in many popular categories, such as those listed below.

A Freelancer's Guide to Taxes

Freelancing certainly has its benefits, but it can result in a few complications come tax time. The Internal Revenue Service considers freelancers to be self-employed, so if you earn income as a freelancer you must file your taxes as a business owner. While you can take additional deductions if you are self-employed, you'll also face additional taxes in the form of the self-employment tax. Here are things to consider as a freelancer when filing your taxes.

Tax Deductions for Voluntary Interest Payments on Student Loans

Most taxpayers who pay interest on student loans can take a tax deduction for the expense ? and you can do this regardless of whether you itemize tax deductions on your return. The rules for claiming the deduction are the same whether the interest payments were required or voluntary.

Add a Comment

*0 / 3000 Character Maximum