Tax season brings more than deadlines. It’s one of the most active times of year for financial scams. We've seen firsthand how sophisticated these schemes have become, and we want to make sure our clients and their loved ones know what to watch for.

These scams commonly rely on urgency, fear, and trust. Whether you're filing taxes, managing accounts, or simply checking your email, here’s what to watch for and how to protect yourself.

IRS impersonation scams — especially common right now

Every tax season, scammers pose as IRS agents, claiming you owe money and demanding immediate payment. They may threaten arrest, license suspension, or other consequences if you don’t act quickly.

The key thing to remember is that the IRS will never call demanding immediate payment, require gift cards or wire transfers, or threaten you on the spot.

Phone scams (“vishing”)

Scammers impersonate banks, advisors, or government agencies, and often already have partial personal information which makes the call feel legitimate. They’ll ask you to “verify” sensitive details like your account number or Social Security number.

The rule is simple: never give personal or financial information to someone who called you. If the call feels urgent or pressured, that's a red flag. Hang up and call the organization back using a number you find independently, not one the caller provides.

Email phishing

These emails are designed to look like they’re from trusted sources like your bank, the IRS, or Medicare. They typically ask you to click a link, log in to an account, or download an attachment.

Before clicking anything, look closely at the sender’s email address. Scammers often use addresses that are close but not quite right (e.g., a misspelling, an extra character, a different domain). When in doubt, don’t click. Go directly to the organization’s website by typing the address into your browser or call them directly using a verified phone number.

Fake investment opportunities

Fraudulent investment schemes often promise high returns with little or no risk. These scams frequently target retirees and high-net-worth individuals, and they can be remarkably convincing, sometimes coming through people you know and trust.

We encourage clients to run any unsolicited investment opportunity by us before acting. If someone is pressuring you to invest quickly or keep it confidential, those are serious warning signs. Legitimate opportunities don't expire overnight.

Romance scams

Romance scams are among the most emotionally devastating forms of financial fraud. A scammer builds a relationship, often entirely online, over weeks or months before asking for money, typically framed as an emergency. These scams disproportionately affect older adults and can result in significant financial and emotional harm.

If someone you've never met in person asks you for money, gift cards, or wire transfers, please talk to someone you trust before sending anything. We're always here to help you think it through.

Medicare and Social Security fraud

Scammers frequently impersonate Medicare or Social Security Administration representatives, claiming your benefits are at risk or that you need to verify your information to continue receiving them. They may offer fake services, request payment for new Medicare cards, or threaten to suspend your Social Security number.

Medicare and Social Security will never call you unexpectedly to ask for personal information or payment. If you receive a call like this, hang up.

Tech support scams

A pop-up appears on your screen warning that your computer has been compromised. A number appears urging you to call immediately. The "technician" who answers asks for remote access to your computer. Once they have it, they can access your financial accounts, install malware, or steal your personal information.

Legitimate tech companies do not send unsolicited pop-up warnings asking you to call a support number. If this happens, close the window, don't call the number, and if you're concerned about your device's security, contact a trusted local technician.

The common thread

While these scams vary, they tend to follow the same pattern:

• Urgency — “Act now or face consequences”
• Authority — IRS, banks, government agencies
• Pressure — discouraging you from pausing or verifying
• Unusual payment methods — gift cards, wires, crypto

What to do if you think you’ve been targeted

If something feels off, trust that instinct. Slow down, don’t act immediately, and verify independently. If you believe you’ve been the victim of a financial scam, you can find the right government agency or consumer organization to report this to by visiting https://www.usa.gov/where-report-scams.

And please, never hesitate to call us. At The Manning Companies, protecting our clients goes beyond financial planning. If you receive a suspicious call, email, or investment offer and want a second opinion, we're here — please reach out.