Tax season is busy. And yes, that's exactly why it’s prime time for scammers. But here's the good news: with a few smart moves, you can protect yourself and your sensitive financial information.
The numbers are real. According to the IRS Criminal Investigation (IRS-CI) Fiscal Year 2025 Annual Report, approximately $4.5 billion resulted from tax fraud investigations — an increase of 111.8% from the year before.* The most common scheme? Scammers using stolen names, Social Security numbers, and personal information to file fake tax returns and claim refunds that should be yours.
The tricky part is that many victims don't discover the fraud until they attempt to file their own return. That’s when they discover that one's already been processed in their name. By then, the damage is done.
One of the fastest-growing scams involves criminals pretending to be government officials. The Federal Bureau of Investigation reported a 63% increase in these impersonation crimes in 2023.*
Here's what you need to know: In most cases, the IRS initiates contact through regular mail delivered by the U.S. Postal Service. They typically send letters before ever calling. The IRS does not initially contact you by phone, email, text, or social media to demand personal information. They won't threaten you with immediate law enforcement action. They won't ask you to pay via gift cards, wire transfers, or cryptocurrency. And they don't demand immediate payment without giving you the opportunity to question or appeal what you owe. If someone claiming to be from the IRS is doing any of those things, it's a scam.
We're here to help you stay ahead of these threats. With eAlerts on all your accounts and multi-factor authentication protecting your online banking login, you've got layers of defense working for you.
If you've opted into estatements, your 2025 tax documents will be available in online banking as early as January 31—giving you everything you need without the stress of waiting for mail. If you haven't signed up for estatements yet, now's a great time. You'll get faster access to your tax documents plus all your statements securely delivered to your inbox. Ready to switch? Learn how to set up estatements.
And if you ever spot something suspicious on your LMCU accounts, our fraud prevention team is standing by. We work hard for you every single day, and that includes keeping your financial information safe.
For more resources on tax safety and fraud prevention, visit our Security Center. Questions about your tax documents? Check out our Income Tax Year-End Information guide.
We're here to help. That's what being your financial partner means.