The U.S. Treasury Department is anticipating fraud as the IRS distributes about $300 billion in direct cash payments to Americans to provide economic relief during the COVID-19 pandemic.
Two services the IRS has quickly stood up for submitting their direct deposit banking details to receive payments are accessible online, creating opportunities for fraud.
One of those services is for non-filers, those below the income threshold required for filing a federal income tax return – which means the IRS does not have their bank account details. Another, Get My Payment, is designed for anyone to submit direct deposit details. The IRS is also mailing paper checks to those for which it lacks direct deposit information.
