IRS warns taxpayers about Child Tax Credit scams as payments reach households

IRS warns taxpayers about Child Tax Credit scams as payments reach households

The IRS is warning taxpayers about a growing number of scams related to Child Tax Credit payments, which the agency just began sending to qualified households last week.

“While millions of American families started receiving the advance Child Tax Credit payments last week, criminals were already looking for innovative tactics to take advantage of unwitting victims,” the tax agency said in a statement. “Taxpayers should be on the lookout for a variety of phone, e-mail, text message and social media scams targeting families eligible for the credit.”

The IRS says scammers are constantly coming up with new ways to try to trick people out of their money, but there are a few surefire ways to tell whether communication is fraudulent.

First, the IRS will not initiate contact with taxpayers over email, text message or social media to request personal information.

The agency also will not leave pre-recorded, threatening voicemails regarding lawsuits or arrests, nor will it call asking for taxpayers to verify their personal information in order to receive the credit.

Taxpayers will also never be asked to send the IRS money via wire transfer, gift card or cryptocurrency.

The expanded Child Tax Credit is $3,600 for children under the age of 6 and $3,000 for children between the ages of 6 and 17.

The IRS is paying half of the total credit in advance monthly payments beginning on July 15, while taxpayers will claim the rest when they file their 2021 return…Read more>>

Source:-foxbusiness

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