The Reason Warner Bros. Discovery Employees Need to be Aware of Common Tax Scams

Tax scams, as reported by the Internal Revenue Service (IRS), have a tendency to rise during tax season and/or other times of economic uncertainty. (1) Now that tax season is in full gear, the Internal Revenue Service is advising taxpayers to exercise extreme vigilance and prevent themselves from falling prey to dishonest tax schemes. According to the Federal Trade Commission (FTC) , Americans aged 60 and older are more vulnerable to financial scams than any other age group, with scammers often posing as trustworthy organizations or individuals such as government agencies, charities, or healthcare providers. A recent report by the FTC showed that consumers aged 60 and older reported losing over $1 billion to fraud, with the median loss being $600. Warner Bros. Discovery employees and retirees should be aware of the following frequent tax scams in order to avoid getting taken advantage of.

Phishing and text message scams

Phishing is the first type of con that Warner Bros. Discovery employees and retirees should be on the lookout for. Phishing and text message scams typically comprise unsolicited emails or text messages that give the impression that they originated from official IRS websites in an effort to trick you into providing personal or financial information. When con artists get their hands on this information, they immediately utilize it to steal people's identities or their money. The Internal Revenue Service does not reach out to taxpayers directly by email, text message, or any other form of social media to ask for personal or financial information. The Internal Revenue Service (IRS) makes the majority of its initial contacts through the use of normal mail that is delivered by the United States Postal Service. Warner Bros. Discovery workers and retired employees are the people whose awareness of this topic we would like to ensure.

Phone scams

Warner Bros. Discovery employees and retirees need to be on the lookout for fraudulent phone calls in order to protect themselves. Scammers will generally call their victims and tell them they owe money to the Internal Revenue Service (IRS) or that they are entitled to a huge return from the IRS. The calls can show up on your Caller ID as coming from the Internal Revenue Service (IRS), they might be accompanied by bogus emails that look like they were sent from the IRS, or they might be followed up by calls from people claiming to be from law enforcement. These cons frequently target more vulnerable groups of people, such immigrants and older citizens, and they will utilize scare tactics like threatening arrest, cancellation of license, or deportation.

Tax-related identity theft

When someone steals your Social Security number in order to file a bogus tax return claim, this is an example of tax-related identity theft. It's possible that you won't even realize you've been a victim of identity theft until you go to file your tax return and find out that someone else has already used your Social Security number to file a return. You could also receive a letter from the Internal Revenue Service informing you that it has found a suspicious return that uses your Social Security number. The Internal Revenue Service (IRS) has recently implemented a program called the Identity Protection PIN Opt-In Program to aid in the prevention of identity theft related to taxes. When you file your tax return, the Internal Revenue Service will use the Identity Protection PIN, which is a six-digit code known only to you and the IRS. This code assists the IRS in verifying your identity. Warner Bros. Discovery employees and retirees can benefit from this preventative action to better safeguard themselves against the risk of having their identities stolen.

Tax preparer fraud

Con artists will occasionally appear as legitimate tax preparers in order to defraud unwary taxpayers by committing identity theft or fraud involving tax refunds. Warner Bros. Discovery employees and retirees should be wary of any tax preparer who refuses to sign their tax return (sometimes referred to as a 'ghost preparer'), requires a cash-only payment, claims fake deductions or tax credits, directs refunds into his or her own account, or promises an unreasonably large or inflated refund. In general, a legitimate tax preparer will request evidence of your income and eligibility for credits and deductions, sign the return as the preparer, input a valid preparer tax identification number, and present you with a copy of your return. In addition, they will ask for documentation that they are eligible to prepare tax returns. It is critical for current and former Warner Bros. Discovery workers and retirees to exercise caution when selecting a tax preparer. Even if your return was prepared by another person, you are still legally accountable for everything that is included on it.

False offer in compromise

In most cases, con artists are the ones behind this technique. Their goal is to submit a false claim for unemployment benefits using the victim's personal information. If you receive an unexpected prepaid card for unemployment benefits, if you observe an unexpected payment from your state in your bank account, or if you receive an IRS Form 1099-G for unemployment compensation that you did not apply for, you should report it as quickly as possible to the state unemployment insurance office in your area.

Unemployment insurance fraud

Fake charities

Swindlers in the charity sector pose as genuine charitable organizations so that they can solicit gifts from individuals who are unaware they are being taken advantage of. Scam artists frequently take advantage of current catastrophes and/or calamities, like destructive storms or the COVID-19 pandemic, in order to perpetrate their schemes. Warner Bros. Discovery workers and retirees should be aware of charitable groups whose names are similar to those of more well-known or nationally recognized businesses or organizations. Warner Bros. Discovery workers and retirees should always verify the charity's legitimacy before making a donation of any kind, whether it be cash, gift cards, or funds transferred electronically, and they should never send physical currency. At irs.gov/charities-and-nonprofits on the IRS website, you'll find a tool that can aid you in determining whether or not an organization qualifies as a charitable one.

Protecting yourself from scams

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Warner Bros. Discovery workers and retirees can, thankfully, take certain precautions against various types of cons, including those that prey upon taxpayers, so that they can better safeguard their financial security.

Do not click on unfamiliar or suspect links in e-mails, text messages, or instant messaging services; instead, access crucial information directly from the websites of the relevant government agencies.
If you don't recognize the number of the person calling, you shouldn't pick up the phone; instead, you should let the call go to voicemail and check it later to see who it was.
Never download attachments to emails unless you can verify the sender's identity first.
Ensure that your hardware and security software are always up to date, use strong passwords, and implement multi-factor authentication whenever possible.
Never reveal sensitive personal or financial information by electronic mail, text message, or the telephone.

Conclusion

Protecting yourself from financial scams is like wearing a seatbelt while driving. Just as a seatbelt can save your life in the event of an accident, being aware of common scams and taking preventative measures can help safeguard your financial well-being. Just as you would buckle up every time you get in the car, it's important to stay vigilant and informed about potential scams in order to avoid becoming a victim. By staying informed and taking precautions, you can help ensure a safe and secure financial future.