IRS Warns of Growing Social Media Tax Scams
The IRS is warning taxpayers about a surge in fraudulent tax schemes found on social media. Scammers posing as tax experts are encouraging people to claim tax credits they don’t qualify for, like the Fuel Tax Credit or the Sick and Family Leave Credit.
These scams have led to thousands of taxpayers filing inaccurate returns, resulting in denied refunds and significant penalties. The IRS has already issued over 32,000 penalties totaling more than $162 million to individuals who fell victim to these schemes.
The agency advises taxpayers to be wary of social media posts promising “easy” refunds or claiming that everyone is eligible for certain credits. Anyone who has been misled should amend their return immediately using Form 1040-X, respond to any IRS notices, and seek advice from a reputable tax professional.
