{"id":210134,"date":"2025-03-06T02:29:54","date_gmt":"2025-03-06T10:29:54","guid":{"rendered":"https:\/\/www.mcafee.com\/blogs\/?p=210134"},"modified":"2025-07-29T17:45:15","modified_gmt":"2025-07-30T00:45:15","slug":"financial-losses-from-tax-scams-top-1000-on-average-and-gen-z-is-a-growing-target","status":"publish","type":"post","link":"https:\/\/www.mcafee.com\/blogs\/internet-security\/financial-losses-from-tax-scams-top-1000-on-average-and-gen-z-is-a-growing-target\/","title":{"rendered":"Financial Losses from Tax Scams Top $1,000 on Average\u2014and Gen Z is a Growing Target"},"content":{"rendered":"

Tax season is already stressful for many Americans, and to make matters worse, it’s also a golden opportunity for scammers. <\/span>\u00a0<\/span><\/p>\n

According to a new 2025 tax season survey conducted by McAfee, nearly half (48%) of people say they, or someone they know, has received a message via email, social media, phone call, or text message falsely claiming to be from the IRS or an official state tax authority.<\/span>\u00a0<\/span><\/p>\n

And when these deceptive messages and other manipulative AI practices work, research reveals it costs \u2014 a lot.<\/span>\u00a0<\/span><\/p>\n

The Findings: 10% of Tax Scam Price Tags Topped $10,000<\/span>\u00a0<\/span><\/h2>\n

Gen Z adults (18-24) surveyed by McAfee reported experiencing the most scams, with nearly 40% saying they or someone they know has been scammed.\u00a0<\/span>\u00a0<\/span><\/p>\n

While young adults face high rates of attempted fraud, older adults (65-74) are still at greater risk of large financial losses. Among men in that age group who lost money in such a scam, 40% reported losing between $751 and $1,000, and half of the women lost between $2,501 and $5,000.\u00a0<\/span>\u00a0<\/span><\/p>\n

Meanwhile, the steepest losses overall were reported by those aged 45-54, with 10% saying they lost more than $10,000.<\/span>\u00a0<\/span><\/p>\n

How Tax Scams Work and The Growing Role of AI<\/span>\u00a0<\/span><\/h2>\n

Criminals have long relied on phishing emails and fraudulent calls to obtain personal information\u2014especially during tax season. Today, AI is raising the stakes.\u00a0<\/span>\u00a0<\/span><\/p>\n

Deepfake audio lets scammers sound exactly like IRS agents, and AI-generated phishing emails perfectly replicate official communications from reputable tax preparation services.<\/span>\u00a0<\/span><\/p>\n

In fact, more than half (55%) of Americans say they\u2019ve noticed scam attempts becoming more realistic than in previous years, and 87% worry AI is making them even harder to detect.<\/span>\u00a0<\/span><\/p>\n

Here\u2019s how a typical tax scam might play out: It often starts with an urgent text or email claiming your refund was rejected\u2014or that you owe back taxes and must pay immediately. These messages can look and sound incredibly convincing, prompting recipients to click a malicious link or call a fake helpline.\u00a0<\/span>\u00a0<\/span><\/p>\n

Once scammers have your attention, they\u2019ll ask for personal or financial information\u2014like your Social Security number, bank details, or a credit card\u2014to \u201cfix\u201d the supposed problem. Of course, it\u2019s all a ploy to steal your identity or your cash.<\/span>\u00a0<\/span><\/p>\n

Popular Tactics of Tax Fraudsters<\/span>\u00a0<\/span><\/h2>\n

McAfee highlights several tactics that have emerged in these AI-driven scams:<\/span>\u00a0<\/span><\/p>\n