July 13, 2017
The IRS has identified several new variations of standard tax scams involving fake tax bills and demands for payments. Many of these scams involve purchasing and transferring information using a gift card or iTunes card. Other scams to be aware of include:
Electronic Federal Tax Payment System (EFTPS) Scam
This scam involves con artists claiming to be from the IRS. Scammers call and demand immediate tax payment and threaten arrest if a payment is not made immediately by a specific prepaid debit card. Victims are also warned that they should NOT talk to their tax preparer, attorney or local IRS office until after the payment is made.
“Robo-call” Messages Demanding Payment
It is important to remember that the IRS does not call and leave prerecorded messages requesting a call back, but scammers do! According to the IRS, scammers tell victims that if they do not call back, a warrant will be issued for their arrest. Those who do respond are told they must make immediate payment either by a specific prepaid debit card or by wire transfer.
Private Debt Collection Scams
The IRS recently sent letters to taxpayers whose overdue federal tax accounts are being assigned to one of four specific collection agencies. Scammers are aware of this and are now calling taxpayers posing as private collection firms. If you receive a call like this and you have not been notified by the IRS about a tax debt, it is safe to consider the call a scam.
Protect Yourself: Know the Signs of a Scam
Given the level of sophistication and perseverance of scammers, it is sometimes difficult to determine legitimate contact by the IRS (and its authorized private collection agencies) versus ploys to get your money and personal information. Protect yourself by understanding that the IRS will:
Remember, the IRS will mail a bill to taxpayers who owe. And all tax payments should only be made payable to the U.S. Treasury and never to third parties.
If you are contacted via phone by a scammer this summer, do not give out any information. Hang up immediately and report the scam to the Treasury Inspector General for Tax Administration at this site or call the hotline at 800.366.4484. If you are unsure about any potential outstanding tax obligations, it is also a good idea to check with your tax preparer.
Small business owners in many communities offer downtown trick or treat events. Take advantage of this opportunity to build your business reputation. Involvement in local events goes a long way with both existing and prospective customers—indicating a vested interest in your community. Find creative ways to make your business stand out this trick-or-treat season. We hope the following suggestions will spark fun promotional ideas:
October marks Women’s Small Business Month, and we are happy and proud to recognize women in business both locally and around the world. Successful business women of the past and present continue to forge new paths for female entrepreneurs. We celebrate all those who are breaking the glass ceiling and serving as role models and mentors to women everywhere.
For many business owners, September tends to bring a bit of a slowdown. The chaos of getting kids prepared for going back to school has passed, and a focus on saving money tends to kick in as people prepare for the coming holiday spend. Combined, this can often translate into a lull for business owners.