Phishing is nothing more than an internet based technique used to collect financial and/or other information from unsuspecting individuals. The IRS has put this scam at the top of the list of those that taxpayers should be aware of. If you are not careful about what you are doing and answer unsolicited emails, you may end up putting your financial information in the wrong hands.

The IRS is also warning people to be careful of anybody posing as an IRS representative wanting to speak about the upcoming economic stimulus payments. Scammers are using this as a way of tricking individuals into divulging personal and financial information including social security numbers, bank account information, etc.

This year alone, more than 1,500 phishing scams have been forwarded to the IRS by alert taxpayers. These thieves use the information they collect to open credit cards in others names, steal from bank accounts, and take out loans.

The best way to avoid becoming victim of a phishing scam is to keep financial information close to the vest. You should never share any information unless you are 100 percent sure of who you are speaking with. Anytime that you receive an email from somebody claiming to be an IRS representative you should be extra cautious. Additionally, you can also forward these emails to the IRS in order to make them aware of the common scams that are circulating.

With phishing scams on the rise, it is important for taxpayers to be very careful as to which emails they reply to. As a general rule of thumb, never share your personal or financial information via email.