Five tax scams and how to avoid them [Video]

Last year, at least $5.5 billion was stolen in tax fraud. And those fraudsters are working harder than ever to take your money and compromise your security.Harry Chavis is the Special Agent in Charge of the IRS Criminal Investigation Division.Here are five red flags to look out for and how to protect yourself.1) PhishingThis is where you’re tricked into clicking on a link in a text message or email, which in turn provides the scammer with access to various financial information.”Once they have that financial information, identity theft is possible, they have access to potentially file fraudulent tax returns, obtain loans in the name of the person, and the list can go on and on,” said Harry Chavis, the Special Agent in Charge of the IRS Criminal Investigation Division in Boston.Here’s how to protect yourself.If you receive an unsolicited email or text message, don’t click the link or enter your …