The Internal Revenue Service has recently issued warnings of phone scams, specifically those that target retirees and the elderly. Scammers will call victims and present themselves as IRS agents, claiming that without immediate payment of back taxes through wire transfers or pre-loaded debit cards, the victims could face arrest and/or hefty fines. The IRS reports that they have received more than 20,000 reports of these types of phone calls. “The Treasury Inspector General for Tax Administration has estimated thousands of victims have paid more than $1 million to people claiming to be IRS agents” (CPA Practice Advisor). If you are contacted by someone who claims to be an IRS agent seeking payment for back taxes, hang up the phone and contact the IRS directly to speak with an agent. The IRS sends notifications and notices through the mail, and does not contact taxpayers through phone or email messages. The only time you should receive a phone call from the IRS is when an IRS agent is returning your call, or you have already received multiple notices. If you have received a suspicious phone call or have any questions, please contact us.