Tax season is in full swing. So are the tax scams

Tax season is in full swing. So are the tax scams

Tax season is in full swing — and that means scammers are on the prowl. Tax scams typically ramp up early in the year when taxpayers start filing their returns to the IRS. (Tax season started Feb. 12.) They also flare up during times of crisis, like the Covid pandemic, according to the federal agency. Con artists may be more active this year relative to past tax-filing windows, exacerbated by the season's delayed start, experts said. "It's like the perfect storm we're dealing with right now," said Howard Silverstone, a forensic accountant and a member of the American Institute of Certified Public Accountants' fraud task force. More from Personal Finance: What Trump tax returns may reveal following Supreme Court ruling $15 minimum wage may boost Social Security benefits by $5,000 a year It may be easier for some student loan borrowers to get PPP loans Much of the fraud typically involves identity theft, according to tax experts. In such cases, a criminal might steal personal information to file a fake tax return and collect your refund. Taxpayers may also unwittingly …
More on: www.cnbc.com