Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
How a Fake IRS Call Cost a Michigan Man $1 Million
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe25 FEB 2026 / ACCOUNTING & TAXES
Scams targeting retirees in Michigan have resulted in losses ranging from thousands to over millions of dollars, highlighting a growing issue nationally with the Federal Trade Commission (FTC) reporting $1.16 billion lost to romance scams in the first nine months of 2025 alone. The article argues that financial institutions and professionals need to increase vigilance and take preventive measures, as these scams impact tax outcomes, retirement plans, estate strategies, and client trust.
It always starts small. A pop-up. A text. A voice that sounds official enough. And then, just like that, someone’s retirement account is gone. In Kalamazoo County, Michigan, a man lost $1,051,000 after a fake IRS warning led him to liquidate his 401(k),&n...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
-1785503494.webp)
