Scammers may try to mislead you about tax refunds, credits and payments, pressuring you to share personal, financial or employment information—or even coercing you into sending money. Some impersonate the IRS and may attempt to pose as Summit.

Below, we’ve outlined a few key warning signs of an IRS scam.

Watch out for:

• A big payday - If it sounds too good to be true, it probably is. Bad tax advice on social media may convince you to lie on tax forms or mislead you about credits you can claim. 
  

• Demands or threats - Impersonators want you to pay “now or else.” They threaten arrest or deportation. They don’t let you question or appeal the amount of tax you owe.  
  

• Website links - Odd or misspelled web links can take you to harmful sites instead of IRS.gov.

Knowing how (and when) the IRS contacts you helps you protect yourself from impersonators.

Ways the IRS will contact you:

Typically, the IRS contacts you the first time through regular U.S. mail delivered by the U.S. Postal Service. To verify if the IRS sent the letter or notice, you can search for it on IRS.gov. Some letters are sent from private collection agencies. 

The IRS may also contact you via:

• Email – They email you only with your permission (with a few exceptions, like criminal investigations).

• Text message - They text you only with your permission. 

• Phone - They might call to discuss your case, verify information, or set up a meeting. 

• Fax - They might send a fax to verify or request employment information. 

• In-person visit - These are rare. Find out how and when IRS employees visit you or your business. (They generally send a letter before they visit).

But the IRS will never:

• Contact you or take payment on social media. (Get trusted tax information on our official social media accounts.)

• Accept gift cards or prepaid debit cards as payment 

• Threaten to call law enforcement or immigration officials 

• Take your citizenship status, driver’s license or business license 

• Leave pre-recorded voicemails (robo-calls) 

• Mail tax debt resolution advertisements

If the IRS does visit you:

Unannounced visits are rare. Only 4 types of IRS employees may visit your home or business. Each contacts you in specific ways and carries official identification (ID). 

• Revenue agents – examinations (audits) 
• Revenue officers – collections 
• Special agents – criminal investigations 
• Fuel inspectors

Identification IRS employees carry:

Revenue officers, revenue agents and fuel inspectors carry an IRS-issued credential (pocket commission) and HSPD-12 card. Both have the employee’s serial number and photo. You can ask to see both. 

• You may ask to see an additional ID from revenue agents and fuel inspectors. 

• Fuel inspectors also wear uniforms and drive government vehicles.

Criminal Investigation special agents present law enforcement credentials when they investigate. So if the person doesn’t show you these IDs – or you aren’t sure about them – call the number on the card provided by the revenue officer or agent. If you feel unsafe, call 911.

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Summit Financial Strategies, Inc. (“SFS”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from SFS. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. SFS is neither a law firm, nor a certified public accounting firm, and no portion of this content should be construed as legal or accounting advice. A copy of SFS’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at www.summitfin.com. Please Note: If you are a SFS client, please remember to contact SFS, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. SFS shall continue to rely on the accuracy of information that you have provided. Please Note: If you are a SFS client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.