Beware New Child Tax Credit Scam

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It didn't take the scammers long to start targeting potential recipients of this summer's Child Tax Credit rebate. The IRS is reporting incidents of a new telephone scam that may be gaining in popularity.

The latest attempt to take advantage of confusing tax legislation is a telephone caller who tells an unwary individual that there is a quicker way to get this summer's tax rebate. Just provide your credit card number and you'll be charged $39.99 and your tax rebate will be on its way. Or so people are being told.

The people who have fallen for this scam have actually been charged even more than the $39.99 fee, and the one thing they can be sure of is that they won't get any special treatment when it comes to receiving their tax rebate.

Taxpayers need do nothing to receive their rebates. The tax rebates will be mailed according to a pre-determined schedule beginning on July 25. The timetable is as follows: Social Security numbers ending with 00 to 33 will be mailed July 25, those ending in 34 to 66 will be mailed August 1, and those ending in 67 to 99 will be mailed August 8.

"The only thing the taxpayer needs to do is cash the check," said Mark Everson, IRS commissioner.

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