During tax season, the number one thing most people worry about is filing their taxes before the due date. However, it’s not the only thing you should be aware of.
Many seniors and other vulnerable members of the community each year find themselves involved in a tax scam. These individuals reach out by telephone, email, text message, and other methods demanding confidential information. It’s extremely important for seniors (especially those managing their own finances) and their family/caregivers to know which “red flags” to look for in case they face one of these all-too-common scenarios.
Here are some things to remember:
- Never give out confidential information to anyone. This includes credit card information and social insurance numbers.
- Stay calm and collected. Often, tax scammers will try to scare their target individual into giving them confidential information.
- When in doubt, contact the Canada Revenue Agency (CRA). Check your tax status online or call them directly to confirm the status of your taxes.
The Canada Revenue Agency (CRA) has developed a number of materials to help inform the public about tax fraud and how to avoid it. Be sure to pass along this information to seniors in your life and remind them of the warning signs that come with a tax scam.