As we approach the last few weeks of the major tax season, don’t let fraudsters get you into a tax time panic. Tax season is a busy time for cybercriminals, so small businesses need to be prepared. The Michigan Attorney General’s Office just recently released a consumer alert focused on small to midsize businesses. The alert focuses on W-2 scams, EIN scams, fake IRS phone calls, and excessive claim scams.
W-2 scams: scams usually done via phishing emails, requesting you to share the W-2s of your employees. Cybercriminals will usually pose as a tax preparer or as someone inside you business who would normally require this information
EIN scam: employee identification number scams occur when cybercriminals guide you to a fake website. These fake websites usually look like financial institution websites or federal and state websites. Cybercriminals are hoping to steal your EIN when you type it in and submit it.
Fake IRS calls: These are spoofed phone calls from cybercriminals hoping to trick you into you giving them private information. They are usually trying to get your social security number, EIN, payment information, and other private data.
Excessive claim scams: These scams are when someone files your taxes on your behalf and makes false claims on your taxes.
Time not to panic
As you can see, these scams focus on hacking the human. It is important to remind your employees to be on the lookout for phishing emails, especially those with a focus on W-2s and EINs. Raising awareness and educating your employees about these scams is important to minimize their risk to your small business. It is also importantly to verify your tax returns prior to submitting them to their respective tax offices. It is your responsibility to confirm them before submitting.
For more on tax time panic check out this previous Security Byte. For more on cybersecurity for your small business check out Small Business, Big Threat!