David Lerner Associates: Tax Scams

David Lerner Associates: Tax Scams

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The IRS list of tax svmas reminds tax payers to use caution and avoid becoming victims of fraudulent tax schemes.

Identity Theft

At the top of the list are the Identity Theft Scams. Typically an identity thief will use your identity, such as your name or social security number to fraudulently file a tax return and claim a refund. Remember to always keep your personal and financial information private. If you believe you have been a victim of tax related identity theft, you should contact the IRS Identity Protection Specialized Unit as soon as possible. Beware of callers claiming that they are from the IRS. They may be scam artists trying to steal your money or identity. This type of scam typically involves a call from someone claiming you owe money to the IRS or that you are entitled to a large refund. The calls may also show up as coming from the IRS on your caller ID, being accompanied by fake emails that appear to be from the IRS or involve follow up calls from individuals saying that they are from law enforcement, threatening you with arrest. If you think you might owe taxes, call the IRS for assistance. If you don’t owe taxes and you believe you have been a target of a telephone scam, you should contact the Treasury Inspector General for tax Administration and the Federal  Trade Commission to report the incident.


These scams usually involve unsolicited emails or fake websites that pose as legitimate IRS sites to convince you to offer personal or financial information. Once scammers obtain this information they use it to commit identity or financial theft. Remember the IRS will never initiate contact with you by email to request personal or financial information. Phishing activities that appear to be from the IRS or related organizations should be reported to the IRS.

Fake Tax Preparers

During tax filing season some individuals hold themselves out as tax preparers and take advantage of unsuspecting tax payers to commit refund fraud or identity theft. In addition, scam artists often pose as tax preparers promising unreasonably large or inflated refunds. It is important to choose a tax preparer carefully since you are legally responsible for what’s on your return even if it’s prepared by someone else. A legitimate tax preparer will generally ask for proof of your income and eligibility for credits and deductions, sign a return as the preparer, enter the preparer Tax Identification Number and provide you with a copy of your return.

While these types of tax scams are especially prevalent during tax filing season, they can take place any time during the year. As a result it is in your best interest to always be on the lookout for possible tax scams. And finally, remember to trust your instincts. If something sounds questionable or too good to be true, it probably is.


Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. Some of this material has been provided by Broadridge Investor Communications Solutions, Inc.




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David Lerner Associates - Tax Scams

The IRS recently released its annual list of tax scams. The list reminds tax payers to use caution and avoid becoming victims of fraudulent tax schemes.


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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: http://www.davidlerner.com

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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