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Cybercriminals Love Tax Season – Here’s How to Stop Them from Targeting Your Business

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Tax season isn’t just a busy time for businesses—it’s prime hunting season for cybercriminals. As you rush to file returns and process financial documents, hackers are working just as hard to intercept sensitive data, deploy phishing scams, and exploit weak security measures.

The numbers don’t lie:

  • The IRS flagged over 1 million fraudulent tax returns last year, preventing nearly $6 billion in tax fraud.
  • Business Email Compromise (BEC) scams increased 65% in 2023, with hackers impersonating accountants and executives to trick employees.
  • The average cost of a BEC attack? $137,000 per incident.

And with the rise of AI-driven cyberattacks, fake emails and phishing attempts are more convincing than ever. Is your business prepared?

Why Tax Season Is a Cybercrime Hotspot

  • More sensitive data in circulation

    During tax season, businesses exchange a massive amount of financial data with accountants, payroll providers and tax agencies. Every additional email, attachment or login request creates another point of vulnerability for hackers. 

  • Tight deadlines = Costly mistakes

    Under pressure to meet tax deadlines, employees are more likely to fall for phishing emails disguised as urgent financial requests. One accidental click could expose your company's banking details or customer records. 

  • Flood of Emails & Fake requests

    Cybercriminal impersonate the IRS, tax preparers or financial officers to trick businesses into wiring funds or handling over sensitive data. In fact, scammers use AI to create near-perfect fake emails that look identical to real ones. 

  • Trending alert: The latest IRS Scam

    The IRS recently warned of a new tax scam where hackers send phishing emails with subjects like "Your Tax Refund Has Been Suspended" or "Action Required: Tax Penalty Notice" to steal credentials. 

 

Top Tax Scams to watch out for

  • Phishing Emails – Fake messages from "the IRS" or your bookkeeper requesting login credentials or financial data.

  • Fake Invoices & Payment Requests – Cybercriminals impersonate vendors or executives, tricking employees into wiring funds.

  • Ransomware Attacks – Hackers encrypt critical business data and demand a ransom right when you need it most.

  • Social Engineering – Scammers posing as accountants or payroll services gain access to your financial systems.

 

How to Protect Your Business This Tax Season

1 | Train Your Team to Spot Scams

Your employees are your first line of defense. Make sure they:

  • Verify email senders before opening attachments.
  • Double-check financial requests via a second method (like a phone call).
  • Report suspicious emails immediately.

2 | Secure Your Communications

  • Never send tax documents over email. Use encrypted portals instead.
  • Update software & firewalls to block cyber threats before they reach your inbox.

3 | Enforce Multifactor Authentication (MFA)

  • MFA adds a security layer to email, financial platforms, and sensitive logins.
  • Even if a password is stolen, MFA can stop hackers in their tracks.

4 | Test Your Backups & Run a Cybersecurity Audit

  • Ensure your backups are functional. A corrupted backup is as useless as no backup at all.
  • Conduct an IT security audit to find weak points before hackers do.

5 | Verify All Financial Transactions

  • ALWAYS confirm payment requests by phone.
  • Look for red flags: sudden changes in payment instructions, new bank accounts, or urgent requests from executives.

 

Don’t Let Hackers Cash In on Your Business This Tax Season

Tax season is stressful enough without adding cybercrime to the mix. By taking proactive steps now, you can keep your business secure, prevent fraud, and ensure smooth operations.

Want a cybersecurity expert to review your systems before it’s too late? Schedule a FREE Security Check-Up with TheCompuLab today.

 
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