The IRS has issued a new warning to businesses, taxpayers, and tax prep professionals about Phishing scams targeting sensitive information they work with on a daily basis. Last week, the IRS and the US Department of Education suspended a tool that helps people obtain financial aid for college. Last year, between January and September, 1.2 billion fraudulent returns were filed by scammers. The IRS paid out $2.24 billion in fraudulent returns during calendar year 2015, which is 15-percent of the total amount attempted that year.”]

