Beware of Economic Stimulus Payment Scams

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Economic stimulus payments will put an extra $300 to $1200 in the hands of most Americans. While that sounds good to consumers, it is also a golden opportunity for crooks. After all, a total of around $100 billion is being distributed and the bad guys want a chunk. The payments will start going out in May. However, there are some early scams springing up across the country. Some reports indicate scammers are telling people they can have their rebate early if they provide their Social Security number or other information. Other reports suggest callers pose as IRS employees and request bank account numbers to send the payment. Authorities urge you to hang up.

Similar scams by e-mail have also been reported. The IRS has a special site where you can report and submit e-mail scams that claim to come from the IRS. Visit www.irs.gov for instructions on how to submit copies of suspicious e-mails.

Also, keep in mind the only way to receive an economic stimulus payment is to submit a 2007 tax year federal tax return. For more information about the payment, visit www.irs.gov.