Watch out for scams this tax season
The 2024 tax season is in full swing!
This year, Inland Revenue will send around 3.7 million tax assessments, mainly using customer’s myIR accounts as well as the post. The assessments show whether there is a refund due, a bill to pay or whether the right amount was paid for the 2023/24 tax year.
From past experience, we know that when the IRD sends out these assessments, scammers know and increase their attempts to rip off Kiwis.
So, the IRD is warning taxpayers to be extra vigilant and watch out for scammers.
Scammers want to trick people into giving out personal information, like credit card details.
Some helpful tips
Refunds:
Inland Revenue will only pay refunds directly into the bank account they have on record and will only ask people to log in to their myIR account from www.ird.govt.nz
Avoid Suspicious Links:
Do not click on any links you receive in emails or text messages. It’s always safer to type in the address directly to your web browser and navigate from there.
Bank Account Details:
Inland Revenue will ask for bank account details if they don’t have them, but importantly, will always ask people to provide these in a secure way – using their myIR account or through the call centre (0800 257 777).
Tax Payments:
You will have until February or April next year to pay an income tax bill. A bill won’t have to be paid immediately (scammers often try to create a sense of urgency).
Refund Communication
Inland Revenue will never put the dollar amount of a refund in an email or text message and will not ask for your credit or debit card details in order to pay a refund.
They will also never ask you to reply to an email or text message to provide your bank account details.
Tone:
Inland Revenue will never speak to customers threateningly.
Anyone can get caught out
Scammers may call, text or email promising a tax refund if people provide personal details. If it seems too good to be true, it’s probably a scam.
To provide an additional layer of protection, it is strongly recommended that you enable two-factor authentication – more details can be found at: www.ird.govt.nz and search for “two-step verification”.
For more information about scams visit Signs of a Scam.
If you think you have received a scam forward it to phishing@ird.govt.nz
How Affinity Accounting Can Help
At Affinity Accounting, we understand that navigating the tax season can be stressful, especially with the added risk of scams. Our Wellington-based team is committed to providing you with the support and advice you need to stay safe and compliant. We offer a range of services tailored to small businesses in New Zealand, including:
Tax Preparation and Filing: Ensuring your tax returns are accurate and submitted on time and dealing with the IRD on your behalf.
Ongoing Support: Offering continuous assistance throughout the tax season to address any concerns you may have.
Contact us today to learn more about how we can help you safeguard your business and financial data during this tax season.
Affinity Accounting is a Wellington accounting, tax and advisory firm serving clients across New Zealand.