Scammers have become increasingly sophisticated in their tactics, making it crucial for SMBs to stay informed and vigilant. Every year, criminals and scam artists come up with new tactics to deceive unsuspecting small and medium-sized business owners and leaders. According to the IRS's annual 2023 Dirty Dozen list, tax fraud risks are not confined to tax season. This is why businesses must stay informed about evolving tax scams and understand how to minimize the possible impact on their operations. 10 Latest Tax Scams Targeting SMBs We previously wrote about 2022 tax scams targeting small and medium businesses. This article goes into 10 of the most prevalent business tax scams in 2023. Watch out for an upcoming article that shares practical tips you can follow to avoid falling victim to these schemes! 1. Business-Related W-2 Scams One of the most common tax scams targeting SMBs is the W-2 scam. Hackers use fake emails or text messages to trick payroll and human resources professionals into sharing sensitive tax information, such as employees' W-2 forms. Once cybercriminals access the W-2 forms, they file fake tax returns to claim refunds. 2. Employee Identification Number Scams Scammers target businesses applying for Employer Identification Numbers (EINs) by tricking them into signing up through fraudulent websites. EINs are required for various business accounts and tax filings. These scammers collect the taxpayer's personal information and may use it for identity theft. 3. IRS Impersonation Scams In an earlier blog post, we previously discussed phone and text tax scams from criminals impersonating the IRS, but this technique has only evolved and spread even further. These scammers often leave messages with phone numbers that are either non-functional or only work for a short period of time. They may even provide a fake IRS agent's name and badge number to appear more convincing. It is important to remember that the IRS will never initiate contact with …
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