Routing #: 226078036

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FRAUD ALERT! IRS Warns of Biggest Tax Scam Ever

Thousands of Americans have been conned out of more than $1 million by crooks posing as IRS agents demanding tax payments.

The plot involves callers claiming to represent the IRS and demanding immediate payments with a pre-paid debit card or wire transfer.

The Internal Revenue Service’s watchdog warned taxpayers Thursday, 3/20/14, about a sophisticated nationwide phone scheme that it said is “the largest scam of its kind” it has seen.

They request prepaid debit cards because they are harder to trace than bank cards. Prepaid debit cards are different from bank cards because they are not connected to a bank account.

The IRS has received more than 20,000 reports about the scam. J. Russell George, the Treasury inspector general for tax administration, called it “the largest scam of its kind that we have ever seen.”

Tax Scams - How to Report Them

Participating in an illegal scheme to avoid paying taxes can result in imprisonment and fines, as well as the repayment of taxes owed with penalties and interest. If you become aware of any abusive tax scams, please report them to the IRS.

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