The Federal Trade Commission warns taxpayers of scammers who are breathing new life into an old scam. Financial contributor Mellody Hobson stopped by “CBS This Morning” to give more information.
Hobson explained how the scam works. “First of all, they (scammers) file a bogus tax return using real information from you.” Here’s the twist, the refund they get from the fake tax return is actually deposited into your account. She said, “Then they call you pretending to be the IRS saying they are going to file criminal charges if you don’t return the money… and your social security number is going to be blacklisted.” The second twist is since the IRS only issues one tax return to the designated social security number, the real one is withheld or rejected until the whole situation is sorted out.
Hobson then provided steps on what to do if you become a victim of the tax scam. If you receive that money tell your bank to send it back to the Automated Clearing House Department (ACH). She also said immediately call the IRS and explain to them that money is not supposed to be in your account.
Lastly, Hobson advised to not answer calls, texts or emails from the “IRS” because the real IRS contacts people first with a letter.
