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Sadly, it did not take long for scammers to take advantage of the programs being offered to help individuals and businesses through this current situation. Don’t let your guard down!

Remember, the IRS and banks will not contact you for bank account information or to verify social security numbers or information on your tax return. Also, you should not pay anyone a fee to process your stimulus check. The Federal Communications Commission (FCC) is receiving reports of potential scams, warning on their website:

Many consumers will receive checks as part of the federal government response to the coronavirus. No one will call or text you to verify your personal information or bank account details in order to “release” the funds. The Treasury Department expects most people to receive their payments within three weeks, via direct-deposit information the department has on file from prior tax filings.

The FCC also warns that “Small businesses are also getting scam calls about virus-related funding or loans and online listing verification.” Don’t buy the lies. Be cautious if you’re being pressured to share any information or make a payment. The FCC also advises: If you think you’ve been a victim of a coronavirus scam, contact law enforcement immediately.

Our entire Team at MillerMusmar CPAS is here to help you navigate through this program. Contact us if you require our assistance.

Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended or written by the practitioner to be used and cannot be used by the taxpayer for the purpose of avoiding penalties.

MillerMusmar CPAs is an established accounting firm with offices in Reston, and Virginia. We have a twenty-five-year history of providing top quality auditing, tax, and accounting services to clients throughout the Washington Metropolitan area and internationally. By combining the expertise of a mid-sized firm with the personal attention, we are both large and small enough to deliver a responsive service to our clients. For more information, please call us at +703-437-8877 or visit our website at www.MillerMusmar.com