Protecting yourself from social media tax season scams and misleading information

With the new year comes a new tax season… and cybercriminals attempting to scam unsuspecting people out of their identity and hard earned money. 

We can probably all agree that the random video that popped up on our social media channel of choice is not the ideal place for solid tax advice. Yet, social channels are filled with content, hashtags, and topics targeting unsuspecting every day people with inaccurate and potentially fraudulent information. 

There are a number of potential reasons for these posts, including those that are simply attempting to capitalize on the interest of the most used keywords of the season to increase their “likes” and “follows”, or those that are looking for ways to steal sensitive information for their own financial gain.

According to irs.gov, two of the top tax scam warning signs to watch out for are bad tax advice on social media which may convince you to lie on tax forms or credits you can claim and odd or misspelled website links that can take you to harmful sites.

Regardless of the motive of these social posts, it is always a wise idea to seek out reputable and trusted tax experts or consult the IRS directly for any questions or assistance filing your taxes. 

If you’ve fallen victim to a scam, there are a few recommendations to follow. These include:

• Contact the credit union immediately at (800) 235-8455
• Place a fraud alert with each credit reporting agency (Equifax, Experian, TransUnion)
• Report it to the IRS