Economic Impact Payment Scams

Economic impact payments are being sent from the IRS automatically to those who are eligible.  Whether you are expecting payment or not, you should be aware of potential scams that are used to exploit taxpayers during these confusing times.

Here are a few tips on how to spot a potential scam, from identity theft protection provider Lifelock:

Ways to Spot a Potential Scam:

  • Usage of phrases like “stimulus check” or “stimulus payment.”  The official term is economic impact payment.
  • Being asked to sign over your economic impact payment in exchange for receiving additional funds.
  • Requests by phone, email, text, or social media for verification of personal and/or banking information.  Fraudsters may claim the information is needed to receive or speed up your economic impact payment.
    • The IRS will not call you asking you to verify financial information to expedite payment.
  • Being asked by someone for personal information in order to get an economic impact payment faster by working on your behalf.
  • Being mailed a bogus check and asked to call or verify information online in order to cash it.

If you or someone you know experiences one of these, DO NOT RESPOND.  You can report the scam to the FTC (www.ftc.gov/complaint).