The US economy has suffered much during the COVID-19 pandemic. As a result, the government issued various economic stimulus payments to help their citizens survive. There have been three groups of stimulus checks which were made available to eligible US citizens by the American Rescue Plan. However, according to Go Banking Rates, since the summer of 2021 – the IRS has issued many warnings of potential scams and fraud in regards to a further 4th stimulus check payment.
As the new tax season has begun in the US, it is very important to watch out for fraudulent claims and scams – in whatever form they come. This article will briefly look at the nature of such scams. And just how such fraudsters capitalize on unsuspecting US citizens. Read on if you want to learn how to be vigilant.
Let’s begin with an overview of the situation. According to the report – the American Rescue Plan is the largest ‘spending bill’ in American history. Criminals and fraudsters are by nature, opportunistic. So it is no wonder that the amount of scams regarding an unreal fourth stimulus check supplied by this ‘spending bill’ is so high. Indeed, fraudsters have tried to capitalize on this situation—time to find out a few ways how.
According to the report, one of the most common ways fraudsters will try to get hold of your details or defraud you is via text messages. They will usually create fraudulent messages claiming to be from the IRS or/ and having a bogus IRS link in it. Furthermore, they will nearly always mention the COVID-19 pandemic or the term ‘stimulus-checks.’ Don’t follow such a link – as it will jeopardize your personal information, and you might become a victim of fraud.
Threatening Messages and Phone Scams
Also, a common thing to look out for is threatening telephonic phone calls or email messages claiming to be from the IRS. Normally such callers would state you owe money on your tax returns. In addition to this, according to the report, such criminals can threaten bogus law enforcement or arrests if the fraudulent amount is not paid and immediately.
To conclude – the problem is so bad that this report stated that scammers had defrauded or stolen half a billion dollars by the end of last year since the beginning of the pandemic. Hopefully, this article will help you remain vigilant – so you don’t be defrauded!
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