Fraudulent Callers Claim to be IRS Agents

Advanced phone technology is helping scammers up their game of attempting to bilk funds from unsuspecting victims in the most recent and perhaps most daring phone scam to date.

Using technology called spoofing which changes the phone number recipients see on their caller ID, scammers are calling landlines and cell phones in Chattanooga and surrounding areas claiming to be agents with the Internal Revenue Service (IRS). The phone calls appear to be from the Washington, DC area code. The scam artists inform potential victims that they are in default with the IRS, and that a lawsuit has been filed against them to collect past due amounts. Some callers say there is an active warrant out for the intended victim arrest. The callers then offer a way to avoid legal action in the form of immediate payment by phone or by wiring a specified amount of money to avoid being arrested.

It is important to be aware that these scam artists are quite aggressive and are not easily dissuaded in their attempts to garner personal information such as your social security number and an immediate payment, many times in excess of $10,000. In September of this year, the IRS stated that at least 90,000 complaints had been filed about scammers claiming to be with the IRS. Over 1,000 victims have fallen for the ruse, losing at estimated $5 million to the deceptive but lucrative scam.

The IRS has certain procedures and protocols that they must follow with respect to the assessment of taxes and related collection measures for those who actually do owe taxes. If you owe money to the Internal Revenue Service, you will receive notice of such in writing first; you will not receive a phone call out of the blue with threatening demands. The IRS does not ask for credit or debit card numbers over the phone, or require a specific payment method for taxes, such as a prepaid debit card. Also, the IRS does not threaten to involve local law enforcement agents to arrest you for delinquent taxes.

If you are uncertain whether or not you are in good standing with the IRS, please contact a tax professional for assistance, or call the IRS at 1-800-829-1040.

If you do receive a suspicious call, proceed with caution. Remember, neither the IRS nor the U.S. Treasury will demand payment over the phone, especially by a money order or a prepaid debit card, which seem to be a common suggestion from the scam callers. You should not offer (or confirm) personal information over the phone. It is possible that the scammers have your birthdate, phone number, or even your Social Security Number because they have hacked into a bank or credit card account. Be skeptical of anyone calling and requesting money and/or personal information. Just hang up.

Also, if the caller reveals any of your personal information, you may wish to take precautions for identity theft. Contact your bank and the three major credit bureaus for assistance.

Equifax:

(E) http://www.equifax.com/cs/Satellite?pagename=contact_us

(P) 1-800-525-6285

Mail: Equifax Credit Information Services, Inc.

P.O. Box 740241

Atlanta, GA 30374

Experian:

(E) http://www.experian.com/corporate/personal-services-contacts.html#cFraud

(T) 1-888-397-3742

Mail: Equifax

P.O. Box 9530

Allen, TX 75013

TransUnion:

(E) http://www.transunion.com/personal-credit/customer-support/contact-us.page

(P) 1-800-680-7289

Mail: TransUnion, LLC

P.O. Box 2000

Chester, PA 19022-2000

Contact George Wilmoth, or any of your trusted advisors at HHM, today if you have any questions regarding this information.