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IRS Warns of Economic Impact Payments Scams

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Now that the CARES Act’s Economic Impact Payments are currently being distributed by the Treasury Department, the IRS advises taxpayers to beware of scams relating to these payments.

During these stressful times, scammers are more likely to take advantage of taxpayers. They may claim that personal information, such as bank information, must be verified and required for expedited or additional payments. However, the IRS will not contact you via social media, phone, text, or email for any information.

The IRS plans to mail letters to taxpayers within 15 days after the payment is paid for security purposes. The letter will provide information on how the payment was made and how to report any failure to receive the payment.

Let’s continue to be diligent as we get through this time together. For more information on the IRS payments, including whether you are eligible and how payments may be disbursed, visit the IRS website.

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