This Mistake Could Cost You Your Stimulus Check

When will I receive my stimulus check?

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Text Message/ Email Stimulus Check Scams:
Many scammers are sending a text message that looks like it's coming from the IRS. The message says “your economic relief check is ready and all you have to do is click the link to confirm.”
-If you receive texts or emails claiming that you can get your money faster by sending personal information or clicking on links, delete them. Don’t click on any links in those emails or texts.
The IRS will not contact you for personal information

Stimulus Check Postcard Scam:
Another scam is postcards with a password to be used online to access or verify your payment or direct deposit information. This will likely look official but require you to go to a site that doesn’t end in .gov and will ask you for personal information or to pay a fee.
The IRS will not contact you for personal information

Overpayment Scams and Fake Stimulus Checks:

The FTC says to watch out for overpayment scams.

This is a scam very common online on places like Craigslist. How it works is you will receive a check that likely looks official but is for an amount larger than what you expected then you are asked to refund the difference. Usually how this works is someone is using stolen bank account and routing numbers to convince you to accept the fraudulent check, paying them, and allowing them to get off scott free.

If you receive a check in the mail for an odd amount that includes cents this is likely fraudulent.

The IRS or will not contact you to get your personal information or bank account. Do not click on links. Don't respond to emails, or text messages.

Charging Money To Get The Stimulus Check
You do not need to pay money to get the government relief payment. The whole purpose of the relief is to get money to the people, charging for it would defeat the purpose. You also will not have to pay taxes on the stimulus check amount.


Targeting small businesses.
The SBA put out a warning for fake business relief loans. Many of them look like they’re coming from the Small Business Administration or an attorney representing the SBA. They can come in a text, email or phone call. The scam will typically look like a simple and official application that asks for a processing fee up to a couple thousand dollars. This is a scam.


Social media messages asking for personal information
Some scammers are sending out personal information requests on social media sites claiming you can either get your check early or you must enter information now to be considered. These are scams.

The US government will never get in touch with you on Facebook, Instagram, or any other social media platform.

Claims that a 'processing fee' will get your money to you sooner

Yet another scam claims that you can get additional money or get your money immediately if you share personal details and "pay a small 'processing fee.'" In reality, there's no way to speed up the IRS payment process.

No government agency will ask for a processing fee

Any messages claiming to be the Treasury Department

The IRS is a bureau of the Treasury Department.


General Stimulus Check Scam Tips:
-Most people who qualify to receive a direct payment do not need to sign up, apply, or "verify" any personal information. The IRS is using direct deposit information it already has on file to deliver the money, though you probably won't see it in your bank account for at least two to three weeks.
-The IRS will not call and ask you to verify your payment details. Do not give out your bank account, debit account, or PayPal account information – even if someone claims it’s necessary to get your check.

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Disclaimer
This presentation does not constitute legal or tax advice. It is provided solely for informational and educational purposes and does not fully address the complexity of the issues or all the steps businesses must take under applicable laws. You should consult your professional advisers regarding your individual situation. Max Maher undertakes no obligation to update the information in this presentation, and no representations are made that the content is error-free.

Sources:
businessinsider.com
wbay.com
news4sanantonio.com
treasury.gov

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