Tax season can be a stressful time for everyone, but it can be particularly worrisome for senior citizens, who may be more vulnerable to scams. Unfortunately, scam artists often target older adults, attempting to take advantage of their hard-earned savings. As a caring family member, it is essential to help protect your senior relatives from these potential tax scams without infringing on their autonomy. In this Senior Helpers Summerville blog post, we will discuss the common schemes that target seniors and provide advice on how to educate them about these scams.
Identifying Common Tax Scams Targeting Seniors
It is important to be aware of the most common schemes to protect your senior relatives from tax scams effectively.
IRS Impersonation Scams
Scammers may pose as IRS agents and make unsolicited calls or emails to seniors. It is an attempt to instill fear by claiming that they owe taxes or face legal action. They may demand immediate payment via wire transfer, gift cards, or prepaid debit cards.
Tax Refund Fraud
In this type of scam, identity thieves use a senior's personal information to file a fraudulent tax return and claim a refund. Seniors may not even be aware of this until they submit their tax returns and receive an IRS notice.
Fake Charities
Scammers may create bogus charities and solicit seniors for donations. This often occurs around tax time when people are more likely to give for tax-deduction purposes.
Fraudulent Tax Preparers
Some dishonest tax preparers may target seniors by promising large refunds and then stealing their personal information or a portion of the refund.
Educating Seniors About Tax Scams
Knowledge is power, and arming your senior relatives with information about tax scams is the first line of defense. Provide them with resources to learn about common scams, including the IRS website, AARP, or your local senior center. Share personal stories or news articles about tax scams to make the threat feel more real. If possible, encourage seniors to attend fraud prevention workshops or webinars, which can help them learn how to recognize and avoid scams.
Establish Open Communication
Maintaining open and respectful communication with your senior relatives about the topic of tax scams is essential. Approach them without being condescending or patronizing, and make it clear that you are looking out for their best interests. Ask them to share any suspicious phone calls, emails, or mailings they receive and offer to help them report potential scams to the appropriate authorities.
Implement Preventative Measures
Taking some simple preventative measures can greatly reduce the risk of seniors falling victim to tax scams. Encourage them to file their taxes early, as this can help prevent identity thieves from submitting fraudulent returns in their name. Suggest using a reputable tax professional or software program to ensure that their taxes are prepared accurately and securely. Finally, help seniors set up strong passwords and security measures for their online accounts, including tax accounts, to protect against identity theft.
Consider Third-Party Assistance
If you and your senior relatives are still worried about their vulnerability to tax scams, it may be worth discussing the option of using a trusted third-party service to handle their taxes. A reputable tax service can provide expert assistance, reduce the risk of scams, and ease the burden of tax season. Offer to help your senior relatives research and choose a tax service and address any concerns they may have about losing control over their finances.
Senior Helpers Can Help Protect Seniors From Tax Scams
Senior Helpers offers comprehensive, in-home senior care customized to meet individual needs. We are happy to work together with families to look out for your loved one's financial well-being during tax season and beyond. If you are looking for additional support and care for your senior relatives in Summerville, Orangeburg, Santee, Summerton, Ridgeville, and St. Matthews, don't hesitate to contact Senior Helpers Summerville. Our team of dedicated professionals is here to help!