The IRS is issuing another warning about scammers targeting students and their parents during this back to school season.
This scam is continuing to be a big problem. IRS impersonators are calling students or parents and demanding that they pay the fake Federal Student Tax or other non-existent taxes. They demand to have money wired to them immediately. If the taxpayer doesn’t agree, the scammer becomes aggressive and threatens to report them to the police to be arrested.
Parents should talk to their college students to warn them about these possible scams.
Alternatively, a taxpayer who chooses to set up an installment agreement using the agency’s online payment agreement application will pay a fee of $149. Similarly, they can cut this amount to just $31 by also choosing direct debit.
Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.