Notes From Wilton Manors Bookkeepers: IRS Warns Of Tax Scam

IRS scams
Beware of online scammers, the IRS warns. Wilton Manors Bookkeepers can help businesses navigate tax season, other issues.

The IRS has issued a warning the Wilton Manors Bookkeepers of Sterling Accounting realize and so should you. As tax season wears on, scammers are getting busy trying to rip off people.

Last week, the IRS issued a warning about the return of a specific scam. Forbes reports:

The IRS issued a similar alert to employers as tax season began last year. The tax agency issued a subsequent urgent alert notifying employers that the phishing scam, which had previously targeted for-profit companies – was targeting school districts, tribal organizations, and nonprofits.

Here’s how the scam works. Fraudsters send a fake email pretending to be from a high-level corporate employee requesting information about employee forms W-2 from a company’s payroll or human resources departments. The emails typically ask for the forms W-2 and earnings summary of all W-2 employees or an updated list of employees with their personal details including Social Security Number (SSN), home address, and salary. This scam is sometimes referred to as business email compromise (BEC) or business email spoofing (BES).

Just like that, the scammers can capture all of the data for an entire company. Once the scammers have tricked the company’s payroll or human resources departments into releasing the information, they can use the information to file fraudulent tax returns to obtain bogus tax refunds, or post the information for sale on the Dark Web. In some cases, thieves immediately follow their information request with a request for a wire transfer.

The IRS has established as an email employers can use to report suspected data theft.

The Wilton Manors bookkeepers of Sterling Accounting can help businesses navigate their way through every facet of tax season and other accounting needs.

We serve every client with a depth of resources and the highest level of expertise offering personal attention and access that builds trust. We strive to offer comprehensive accounting and business consulting services by top-notch professionals without sacrificing value.

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