Payroll Scams

Beware of Payroll Scams

The world is getting more tech savvy by the minute and unfortunately that brings illegal technology. With the latest technology comes a new opportunity for hackers to get into our personal data and lives. As tax season crawls upon us again, it is time for a yearly reminder that there are quite a bit of payroll scams.

According to the Internal Revenue Service (IRS) website, in the past year: 

Thousands of people have lost millions of dollars and their personal information to tax scams and fake IRS communication. The scams can affect individuals, businesses, and tax professionals

Knowing what these payroll scams look like can help you from falling victim. The information below is some of the most common phishing tools that scammers use.

The IRS will never:

  • Call and demand that you pay them with a specific payment method. These scam methods include, but are not limited to, debit card transfers, wire transfers or gift card payment.
  • Threaten to send the police to your home or place of business. You will also never be threatened with imprisonment.
  • Demand that you pay the amount that they say without giving you the ability to question or appeal the amount.
  • Threaten you with legal action and lawsuits.
  • Ask for your bank account information, credit or debit numbers, or social security numbers over the phone.
  • Contact you via social media, email, or text message, requesting personal information.

Some of the most common scams in the past few years have focused on W-2 facts. These payroll scams often ask for W-2 figures, details on your employees personal or wage information.

If you are using an online payroll organization or third party provider, you have to make sure that your payroll firm is secure from scams like these. Make sure that you are using a trustworthy and reputable source for your payroll.

If you are aware of payroll fraud prevention and if you know what to look for, you will be able to make sure that your business doesn’t fall prey to payroll scammers.

Do you know where your business is heading? To learn more about how we can simplify your accounting process, call us at 727.828.9945 to schedule your free consultation.

About Accounting & Business Partners

Accounting & Business Partners is a CPA firm with an efficient bookkeeping department. We believe that success lies in numbers. However, the drive behind the numbers is what truly matters. That’s why we look beyond the financial statements.

Accounting & Business Partners Team