Beware of Stimulus Checks Scams

The IRS sent out its first round of stimulus checks last week, and everyone was anxious to get their hands on the money ... but beware there are scammers who are also anxious to steal your money, identity, or both. Everyone needs to know that the IRS won't call, email, or text you to "verify" information. Nor will they ask you or advise you to make any kind of investment which will double the amount of money that you receive. Scammers are trying everything to swindle vulnerable Americans during the coronavirus crisis. Since the government announced it would be sending direct payments of up to $1,200 to qualifying Americans, the fraudulent schemes are ramping up. Remember: Most people who qualify to receive a stimulus check do not need to sign up, apply, or verify any personal information, online or elsewhere. The U. S. Government will never call, email, or text you asking for bank details, Social Security numbers, or money. Right now, due to how vulnerable the population is, it is really prime picking for fraudsters to come out in full force. According to an identity theft protection company, The Federal Trade Commission is reporting more than $13 million in fraud loss due to COVID-19- that's only going to increase with stimulus payment scams. The Internal Revenue Service and the Treasury Inspector General for Tax Administration, the agency's watchdog, have already issued several Scams - From P.5 warnings that scammers are posing as the IRS to try to get personal information from payment recipients that they can then use to steal the money. The inspector general is asking people to report any suspicious activity. Senate Finance Committee Chairman Chuck Grassley wrote in a letter to the inspector general earlier this month, "I understand scammers are already contacting innocent Americans by impersonating IRS or Treasury Department officials, offering so-called COVID19-related assistance that requires the sharing of personal financial information. These scammers then use that information to steal from their unsuspecting victims. Everyone is encouraged to look out for such vile characters, not just for yourselves, but also for family members, neighbors and friends.