Electronic Tax Filing News Update: Scam Targets Elderly Texans

Texas Attorney General Greg Abbott said the state is investigating a fraudulent tax return scheme and warned East Texas residents to avoid recruiters from Syam Tax Services LLC.

The Texas Attorney General’s Office does not typically acknowledge investigations but disclosed the investigation into Syam Tax Services in order to help prevent additional victims from being harmed by the tax fraud scheme.

Although the state’s investigation is still ongoing, the preliminary results show that Syam Tax Services enlisted recruiters to canvass small East Texas churches and senior residences for elderly victims who receive Social Security or disability benefits. Prospective victims are told that low-income Social Security recipients are eligible for a cash benefit under a federal stimulus funds program.

Elderly Texans beware, your identities could be at risk!

Next, victims are told to complete a form, which includes providing their driver’s license, Social Security and bank account numbers to Syam’s recruiters in order to receive their federal stimulus benefits. Without the victim’s knowledge, Syam subsequently prepares and files a fraudulent tax return in the victim’s name.

Read the rest of the article for tips to avoid this scam and what to do if your identity is stolen: http://www.accountingtoday.com/news/Tax-Scam-Targets-Elderly-Texans-65028-1.html

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