The new tax law will mean that many parents are getting a check back from the government for the child tax credit, but scammers are already targeting unsuspecting taxpayers, the Internal Revenue Service warned this week.
The agency has noted isolated instances of this new scheme. A taxpayer receives a telephone call from a person who promises to speed up the payment of the Advance Child Tax Credit checks. The catch is the taxpayer must agree to a $39.99 charge to a credit card.
All those eligible for the tax credit will be sent a check based on their last year’s tax return, the IRS said, and will not have to fill out any more paperwork. And checks should start going out in July.
“The only thing the taxpayer needs to do is cash the check,” said Mark W. Everson, IRS Commissioner. “If you qualify, we will send you a notice. There’s no need to call, no need to apply, no need to fill out another form. The IRS will do all the work. A few days after the notice, you will get the check.”
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access