With tax time upon us, being aware of possible tax fraud and tax-related identity theft is important. While some instances of scams and fraudulent funds may seem legitimate, there are ways to determine if they are or not. Here are some examples to keep in mind:
• Phishing emails:
These are emails that appear to be legitimate by including an IRS logo, and may have personal information included about the recipient. These emails may lure the recipient into disclosing personal information that may lead to him or her becoming a victim of identity theft. Please note the IRS does not communicate by email, text message or phone.
• Identity theft:
This occurs when and individual's Social Security Numbers and other personal identification information has been stolen. In the case of tax fraud, the information is used to file a false tax return and prompts the tax refund to go to the fraudster. Please remember that in cases of identity theft, MSUFCU will not only secure a member's account, but also encourage him or her to contact the Social Security Administration, the Federal Trade Commission, file a police report, and notify the three credit bureaus: Equifax, Experian, and TransUnion. Employees in the Credit Union's Loss Prevention Department can assist members through this process. Identitytheft.gov
is a useful reference tool.
• Tax refund items:
Other scam scenarios include the use of fraudulent tax return checks. If you are in doubt, tcva.fiscal.treasury.gov
is a resource that can assist in verifying funds.
Employees in the Credit Union's Loss Prevention Department can assist members if they have uncertainty with a tax return check or situation. Contact us here