It’s that time of year again: tax season.
In the past few years, tax season has turned into identity theft season for scammers.
They’ve diverted billions of dollars in refunds by stealing birth dates, social security numbers, or falsified W-2 forms.
Because fraudulent refunds were being paid out incorrectly, the IRS has changed their procedures this year.
What are scammers after?
- Fraudulently filing for refunds from:
- Earned Income Tax Credit
- American Opportunity Credit
- The Additional Child Tax Credit
On Tuesday, the IRS began accepting tax returns. How long will the delay be in getting refunds?
- Returns won’t be processed until February 15, 2017.
- Refunds won’t be released until week of February 27, 2017.
If you fall victim to tax scams, visit the IRS website.
You will fill out a referral form, along with any promotional materials to the lead Development Center.
Click here for more information on tax-related topics or a free financial fitness kit from the Oklahoma Society of CPA’s.