Posted by BEST FINANCIAL GROUP LTD

IRS Warns Consumers About Stimulus Check Scam

IRS Warns Consumers About Stimulus Check Scam

The IRS will soon start giving stimulus checks of up to $1,200 to people earlier this week as part of efforts to help millions of Americans weather the coronavirus epidemic. Still, people must be prepared for scammers. 

Crises can bring the best results to people who help families, friends, and neighbors in need. Unfortunately, difficult times can highlight even the worst of some unscrupulous people trying to take advantage of a difficult situation. 

Natural disasters, for example, sometimes cause prices to rise and scams in the devastated area. But in this case, millions of people are unemployed across the country. They are ready to receive checks as part of a $ 2 trillion Stimulus account, which also increases unemployment benefits and potentially a 350 billion dollars forgivable loans for small businesses. Here are some ways to stay away from scams

Your bank or IRS will never contact you for personal information

Fraudsters can try to take advantage of the information they have (possibly on the darknet). This means that they may have a cell phone number and location information but may not have your pin or security password to access your money.

With a "phishing" tactic, scammers can call a consumer's smartphone and pretend the call is from the bank. The person online can say that they are trying to help the consumer quickly receive the prompt to check the money and ask for the consumer's PIN, the three-digit security code behind a credit or debit card, or a password, or an OTP in the case of two-factor authentication.

The same rules apply to any suspected IRS call. The IRS will not call you to ask you to verify or provide your financial information so that you can get a financial impact payment or repay more quickly.

You never have to click on links to get the stimulus

Do not click on emails claiming to be from the IRS or click on attachments and links claiming to come from the IRS, your bank, or any other federal agency. If you receive an email of such, do well to ignore it.

Also, watch out for unsolicited text messages with links. People should also watch out for apps that only appear on coronaviruses. These applications may contain malware and collect personal information.

If you don't have a direct deposit, you'll never need someone to set up your account.

The IRS will send most of the family's money by direct deposit, using already registered bank information to file tax returns. If the taxpayer does not have information on the direct deposit return, they will have two options. They can send their banking information to the IRS via a portal. If the Internal Revenue Service does not have direct deposit information, it will send you a paper check. Hence, taxpayers should not provide direct deposit or other banking information so that others can enter their names on the secure portal.

You do not have to verify your check amount to anyone

The IRS calculates payments based on the information you already have from 2018 or 2019 in your family's adjusted gross income statement and the number of children.

Individuals with an appropriate gross income of less than $ 75,000 will receive a total check of $ 1,200, and married families who deposit together will receive $ 2,400. Families under this limit will receive $500 for each eligible child under this amount. Payments gradually decrease by $5 for every $ 100 above the limit.

You will never be threatened

All unwanted calls claiming to have information about stimulus payments are suspicious, but especially if they are difficult to speak of. The Federal Communications Commission has audio samples of fake automated coronavirus calls that are already available. Some are linked to test kits, student loan rules, or suspicious social security claims. 

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