*First National Community Bank’s blog does not constitute legal, tax, accounting, investment or other professional advice. Recipients should consult their professional advisors for advice.
Tax season is a prime opportunity for scammers. As people gather documents, await refunds, and communicate with tax professionals, criminals take advantage of urgency and confusion to steal money and personal information. At First National Community Bank, protecting our customers goes beyond financial services and we want to help you stay informed and secure. Below are key ways to identify and avoid common tax scams.
1. Know How the IRS Actually Communicates: The IRS will never initiate contact by email, text message, or social media. Scammers often pose as the IRS and claim you owe back taxes or are eligible for a surprise refund. Official IRS communication typically begins with a letter sent through the U.S. mail. Any urgent demand for payment via phone, email, or text should raise immediate red flags.
2. Be Wary of Urgent or Threatening Messages: Scammers rely on fear. Messages that threaten arrest, legal action, or account seizure unless you “act now” are almost always fraudulent. The IRS does not threaten taxpayers or demand immediate payment, especially not without giving you the opportunity to question or appeal the amount owed.
3. Watch for Unusual Payment Requests: Requests to pay taxes using gift cards, wire transfers, prepaid debit cards, or cryptocurrency are clear signs of a scam. The IRS accepts payments through legitimate channels such as IRS Direct Pay, checks, or authorized payment processors, never through unconventional methods.
4. Protect Your Personal Information: Be cautious about sharing your Social Security number, bank account details, or login credentials. Phishing emails and fake tax-prep websites often look legitimate but are designed to steal sensitive data. Always verify the source before clicking links or downloading attachments.
5. Choose Tax Preparers Carefully: If you work with a tax professional, ensure they are reputable and credentialed. Be skeptical of preparers who promise unusually large refunds or base fees on a percentage of your refund as both are common tactics used in tax fraud schemes.
6. Monitor Your Accounts and Credit: Regularly review bank statements, credit reports, and IRS notices. Early detection is key. If you suspect a tax scam, report it immediately to the IRS and contact your bank so we can help safeguard your accounts.
Staying informed is one of the most effective defenses against tax scams. If something doesn’t feel right, trust your instincts and pause before acting. For accurate information or to report suspected tax fraud, visit the official IRS website at irs.gov. And remember, if you have concerns about your accounts or believe you may be at risk, First National Community Bank is always here to help.
As your locally owned community bank of choice, the success of your financial future is top of mind. We offer Personal Checking Accounts, Money Market Accounts, Personal Savings Accounts, CDs, IRAs, Mortgages, Personal Loans, Personal Credit Cards, Business Credit Cards and Business Loans of all shapes and sizes.
Member FDIC. Equal Housing Lender.