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Beware W-2 Phishing Scams

Beware W-2 Phishing Scams

Over the years the number of tax returns efiled has increased, and is expected to be around 91% of all filed returns this year. Efiling is usually quick and easy and can be done from anywhere. This makes efiling a target for identity thieves. These thieves gain access to taxpayer information by email phishing scams, then use that data to immediately efile tax returns, routing tax refunds to their own bank accounts. The unsuspecting victim finds out when he tries to file his taxes and is told they have already been filed. While this is a huge problem for taxpayers, it is an even bigger problem for their employers. Here’s How It Happens While some data breaches are hacks, many data breaches are actually human error. These breaches typically involve email phishing that seems like it would be easy to avoid. Companies that have reported breaches in 2015 include Care.com, Seagate, and Snapchat. These companies would seem to be tech-savvy, so how did they get phished? Someone within these and other companies received an email from another person who appears to be the CFO, the CEO or other high ranking company official. The email requests that the sender be provided information about payroll and employees like these examples provided by the IRS : Kindly send me the individual 2016 W-2 (PDF) and earnings summary of all W-2 of our company staff for a quick review. Can you send me the updated list of employees with full details (Name, Social Security Number, Date of Birth, Home Address, and Salary). I want you to send me the list of W-2 copy...