Did you know that tax time can be prime time for scammers and identity thieves? These crooks take advantage of tax season to get their hands on your money or personal information that they can use in other scams. You should be on the lookout for tax scams such as phishing by phone, email, or text. Fraudsters set the trap by calling and posing as IRS employees or sending official-looking email seeking personal information. They will tell you that you owe money that needs to be paid immediately or you will face some sort of penalty or that you have a refund coming but they need more information. What they really want from you is personal information such as Social Security or bank account numbers information they can use to steal your money or use to apply for credit cards or loans in your name. They might tell you that they will clear your tax problem if you immediately pay them via a pre-loaded debit card or wire transfer. Don’t fall for it. Once you pay the scammers chances are you’ll never see that money again. You might also receive official-looking email claiming to be from the IRS asking you to update personal or tax information. Don’t be tempted. Don’t believe the requests or threats. And don’t click on any of the links. Links like this can take you to fake sites that either collect personal data or infect your computer with viruses. Remember, the IRS will never call to demand immediate payment or ask for any specific form of payment method such as credit or debit card information. The IRS won't use email, social media or text messages to contact you either. If you actually do owe money the IRS will mail you a bill before any other contact begins. You also have the option to appeal or question what they say you owe. So be careful during tax season. Don't let scams take a toll on your finances.