Tax Scams to Watch Out for in 2020

26 May 2020 Accounting Services

The creativity of scammers is boundless, and it seems as though there are new tax scams out there every year that you need to be aware of. At Leskun & Son Accounting, we want to make sure that our clients are as prepared and protected as possible, which is why we try to educate people on tax scams to watch out for in 2020.

4 Tax Scams to be Aware of in 2020

There are always new tax scams being tried and, as awareness grows for a particular type of con, scammers change things up to catch victims off-guard. Some of the top tax scams of 2020 to watch out for include:

Fake Bank Emails

A popular scam in 2020 is to send official looking emails from a bank that ask for information, confirmation, or try to redirect you to another website. These emails will often look quite realistic, but you should never click on any links provided in them or respond to them. Even if your bank sends you notifications by email occasionally, they should not be requesting your financial information or for confirmation on anything by email, so you can assume that any email asking you to take action from your bank is a scam. If you ever have doubts, make sure that you reach out to a qualified financial expert to verify the email.

CRA Impersonators

This scam will usually be done over the phone. A “representative” of the CRA might give you a call to ask for information about your accounts or to demand that you pay an outstanding balance, or let you know that you qualify for a refund. This phone call will often be recorded. There will also often be threats of arrest accompanying the phone call if you do not take immediate action. If you receive one of these calls, the best thing to do is to hang up immediately and not give any information.

Surprise Refunds

Scammers often prey upon the fact that everyone likes to receive free money. It is a common ploy for a scammer to email or text a victim claiming that they are eligible for a refund on something. Even if this refund sounds like something that could relate to you, it is best to delete the email or text.

Social Insurance Number Scams

It has become common for scammers to call victims to notify them that their social insurance number has been compromised in an identity theft operation and that it has been used in a recent crime. The caller will claim to be an official representative of law enforcement and ask for personal details or for you to transfer your money into a protected account or gift cards. You should never give your personal or banking information to anyone over the phone or email.

To find out more information about tax scams to watch out for in 2020, or if you have questions for one of our professional accountants about any other tax or accounting issues, please contact Leskun & Son Accounting at 1-877-826-1219 or fill out a contact form on our website.