IRS 4th stimulus check update


The Federal Trade Commission (FTC) said: “The IRS won’t tell you to deposit your stimulus check then send them money back because they paid you more than they owed you. That’s a fake check scam.

“These scams work because fake checks generally look just like real checks, even to bank employees. They are often printed with the names and addresses of legitimate financial institutions.

“They may even be real checks written on bank accounts that belong to identity theft victims. It can take weeks for a bank to figure out that the check is a fake,” the FTC explained.

“By law, banks have to make deposited funds available quickly, usually within two days. When the funds are made available in your account, the bank may say the check has ‘cleared,’ but that doesn’t mean it’s a good check.

“Fake checks can take weeks to be discovered and untangled. By that time, the scammer has any money you sent, and you’re stuck paying the money back to the bank.”

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