SMBs Among Victims

CF: Are businesses also targeted?

GM: It’s much more in the SMB space. The smaller a business you are, the less likely you are to have a dedicated tax person or somebody in your organization whose full responsibility is that. I’m talking the smaller of the small businesses, those with maybe like 20 employees or [fewer], which makes up an enormous portion of our economy. Often they have the the CEO, who’s the founder of the business, who does payroll, taxes and finance. It comes down to whom you trust. And I think another area of scams that we’ve not talked a lot about, but it’s certainly very prevalent, is the quality of your tax accountant. There are some people out there who feast on the unwitting. So it’s important to vet whoever you work with. A business is its own individual tax entity, and as such, it can fall victim to the same types of scams.