Fraud Archives - Robert P. Russo CPA

Tax Season Is Long Over, but Tax Scams Are Thriving

September 6, 2023September 1, 2023

The IRS is warning taxpayers about emails and text messages that promise refunds and credits but that actually result in identity theft. Many current schemes involve the third Economic Impact Payment (originally made in 2021). Messages may also reference the …

Watch Out for Holiday Gift Card Scams

January 5, 2023January 2, 2023

There’s never an off-season when it comes to scammers and thieves who want to trick people into scamming them out of money, stealing their personal information, or talking them into engaging in questionable behavior with their taxes. While scam attempts typically peak during tax season, taxpayers need to remain vigilant all year long. As such, it is once again time to remind taxpayers that while gift cards make great presents for loved ones, they cannot be used to pay taxes.

Nonetheless, that doesn’t stop scammers from targeting taxpayers by asking them to pay a fake tax bill with holiday gift cards. Scammers may also use a compromised email account to send emails requesting gift card purchases for friends, family, or co-workers.

Russo CPA Tax Tip Article Image: Mouse Trap snapped closed on U.S. dollar pile

Watch Out for Natural Disaster Donation Scams

November 8, 2022November 5, 2022

After a natural disaster, people often rally to help victims by donating money to charitable organizations that help disaster victims. Unfortunately, this can allow criminals to prey on them by soliciting donations from fake charities. As such, before donating to charity, people should ensure their money goes to a reputable organization.

Alert: Significant Increase in IRS Texting Scams – Smishing

November 8, 2022November 3, 2022

To date, the IRS has identified and reported thousands of fraudulent domains tied to multiple text scams, known as smishing, targeting taxpayers. Recently, IRS-themed smishing has increased significantly. As such, taxpayers are reminded to be on the lookout for scams and schemes that could put sensitive tax data at risk – especially this latest IRS-themed texting scams aimed at stealing personal and financial information.

Tax Tips Image: Neatly stacked pennies in an ascending line. Russo CPA Tax Tips 2023

Beware Third Parties Promoting Improper ERC Claims

November 8, 2022November 2, 2022

Taxpayers are always responsible for the information reported on their tax returns. Businesses are encouraged to be cautious of advertised schemes and direct solicitations promising tax savings that are too good to be true.

RUSSO CPA Blog: Standard vs. itemized deductions

Tips To Avoid Fraud and Scams After a Disaster

November 5, 2021November 3, 2021

Criminals and fraudsters often see disasters as an opportunity to take advantage of victims when they are the most vulnerable, as well as the generous taxpayers who want to help with relief efforts. Generally, these disaster scams start with unsolicited contact – typically a phone call, on social media, by email, or even in person. Reviewing the tips listed below will help taxpayers recognize a scam and avoid becoming a victim.

Russo CPA Tax Tips Image: Social Security card artwork

Six Steps to Protect Against Taxpayer Identity Theft

July 6, 2021July 3, 2021

Tax-related identity theft occurs when someone uses a taxpayer’s stolen personal information, such as a Social Security number, to file a tax return claiming a false refund. Thieves are actively working to steal taxpayer information and identities, and everyone should do everything they can to prevent identity theft.

Unemployment Benefits Identity Theft Scam Alert

March 1, 2021

During 2020, millions of taxpayers were impacted by the COVID-19 pandemic through job loss or reduced work hours. Some taxpayers who faced unemployment or reduced work hours applied for and received unemployment compensation from their state. As a reminder, unemployment benefits are taxable income and must be reported on tax returns.