As part of a broader push to modernize payments, the IRS has been phasing out paper refund checks. This tax season, that shift has triggered a surge in notices asking taxpayers to confirm or update their banking information.
These letters, known as CP53E notices, are landing in more than 1 million mailboxes, according to some congressional estimates.
Unfortunately, as you might expect, the spike in IRS correspondence has created an opening for fraudsters, who are reportedly creating convincing fake versions.