If the IRS Calls, Hang Up!

The FTC issued a consumer alert the other day about the latest phishing expedition: "Extra! Extra! Count on Scammers and Schemers to Follow the News." It seems the fact that more than 130 million rebate checks will be coming our way in May, has gotten the attention of crooks, and they're baiting their traps to catch as many of our checks as they can.

Phishing is when a scammer calls or emails you, claiming to be from your bank, credit card company, a government agency, or an online merchant, and tries to get you to reveal personal information that would be useful in stealing your identity.

The Latest in Phishing
Be on the lookout for a call from someone who claims to be from the IRS. You'll be asked to verify some information so your rebate check can be deposited directly into your account. You might be asked for your checking account or Social Security number, for example. Don't bite!

As the FTC puts it:

"The IRS does not gather information for rebates by telephone. Nor does it send unsolicited e-mail to taxpayers about tax account matters. Filing a tax return is the only way to apply for a tax refund; there is no separate application form."

Do's and Don'ts

• Don't give out personal information to callers.
• Don't respond to emails or pop-ups requesting personal information.
• Don't click on any links in an email or pop-up that might be spam.
• Don't take any chances. It's sometimes hard to tell if an email is from your bank or a scammer.
• Do install spam, virus, spyware, and firewall protection on your PC, and update them regularly.
• Do click here for more of Credit.com's phishing tips.

If you do get an email from someone claiming to be from the IRS, the FTC advises you to forward it to phishing@irs.gov, and then delete it. If you think you may have already been a victim of this or any other scam, file a complaint with at the FTC or call toll-free, 1-877-FTC-HELP.

What's in Your Inbox?
Although I haven't received a call or message about my tax rebate, I do get my fair share of phish in an inbox that I keep just to stay on top of the latest schemes. Here's hoping no one is trying to phish for information from you. But if you do get a suspicious call or email, resist the bait and give us a head's up. We'll help spread the word.

Nancy Castleman – Co-author of "Invest in Yourself: Six Secrets to a Rich Life" and founder of Good Advice Press. Nancy has spent the last 23 years teaching people how to get out of debt, save money, and live better on less. She writes on all these subjects for CreditBloggers.com.