Topic: financial abuse
Frank ran a thriving family-run manufacturing business that employs over 200 people. With his keen financial acumen and people skills, he successfully led the business through economic ups and downs. At 75 years of age, he retired, leaving the company in strong financial standing and in good hands with his adult children.
A few years after retirement and unbeknownst to his family, Frank was struggling to manage his checkbook and the household budget. When family would visit, it wasn’t unusual to find Frank in his home office, a stack of unopened mail on his desk.
What stopped Frank’s kids in their tracks was a call one morning from their dad’s neighbor. She shared that the electricity wasn’t working at Frank’s house, and they couldn’t determine why, prompting the call. …
Updated March 4, 2024; previously published April 14, 2021
Being caught in a tax scam can happen to anyone, even though most of us think we’re too smart to get fleeced. Unfortunately, even the most cautious person can get ripped off. When older adults are defrauded, the effects can be devastating.
One insidious fraud making the rounds during tax season involves IRS impersonators. Swindlers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card, money order or a wire transfer. They threaten those who refuse to pay with a grand jury indictment, immediate arrest, deportation or loss of a business or driver’s license. …
IRS Impersonators & Tax Scams Targeting Older AdultsRead More »