Monday, October 25, 2021

Scammers ready to steal money from the child tax credit

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ATLANTA – The IRS issued an additional child tax credit for millions of families, and it comes early.  The child tax credits deposits started dropping last week and officials are already issuing warnings about scammers trying to trick people out of their cash.

You don’t have to do anything to initiate the process. It will come to you the same way you get your tax refund – either by direct deposit or by mail. If you get the maximum amount, that’s $300 a month per child for a total of $3,600. 

There will be six deposits in six months. They started arriving on July 15. The deposits run through the year. But that’s just the first half of it. You can claim the second half of what’s coming to you on your 2021 tax return.

Just like stimulus checks, you can track your money here: GET MY PAYMENT.

More than 36 million families are eligible. That’s a lot of money dropping into accounts everywhere. And you better believe scammers want some of that. Let’s go over ways to protect yourself.

The cyber analysts at Checkpoint offer this sage advice.

Use double verification when you can. The IRS never reaches out via emails, texts, or social media requesting more info from you like personal or financial information. The IRS won’t threaten you. If you get that call that the police are coming, hang up. If you are contacted and told your money is held up and that it’ll be released if you wire money, ignore it.

WATCH: FOX 5 Atlanta live news coverage

If you are unsure what’s real and what is not, reach out to someone you trust and run it by them. A second pair of eyes will help you see more clearly. 

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