IRS Bulletin on Tax Fraud: Email Phishing Combines W-2 Theft and Wire Fraud
The Internal Revenue Service has issued an advisory bulletin to all tax professionals, employers, and other tax payers about tax form related phishing campaigns, including several new variations that combine W-2 scams with business email compromise (BEC) and wire transfer fraud. IRS’s Online Fraud Detection & Prevention (OFDP) office — which manages [email protected] — observed a significant increase in reports of W-2 related scams from more than 100 in 2016 to approximately 900 reports in 2017, an 800% increase.
That's why the Internal Revenue Service is urging everyone to be on guard against the return of the Form W-2 phishing scam that last year made victims of hundreds of organizations and thousands of employees.
The bulletin will provide you with the following information:
- How the fraud works
- How to prevent it
- What to do if you think you are a victim