Is "EXTERNAL WITHDRAWAL IRS - USATAXPYMT" fraud?

Written by Caleb Martin

June 18th, 2024

Medium Risk

What is "EXTERNAL WITHDRAWAL IRS - USATAXPYMT"?

The Internal Revenue Service (IRS) is not a merchant, but a U.S. government agency responsible for tax collection and enforcing tax laws. It was established in 1862 by President Lincoln. The IRS also oversees various benefits programs, such as the Health Coverage Tax Credit, and administers tax laws related to retirement plans, charities, and the like. The IRS mission includes assisting taxpayers comply with their tax obligations and fairly applying the tax law.\n'

EXTERNAL WITHDRAWAL: Indicates that the transaction is a withdrawal from an external source, not from within the same bank or branch.

IRS: Refers to the Internal Revenue Service, which is the United States federal agency responsible for tax collection and enforcement.

USATAXPYMT: Indicates that the withdrawal is for the purpose of tax payment in the United States.

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.

SimplyWise Community Comments

Garrett Montgomery

Hey, had a similar charge on my statement once. Stay calm, contact your bank ASAP, they'll sort it out! Don't let it stress you out.

Harrison Thompson

Saw this weird charge from EXTERNAL WITHDRAWAL IRS - USATAXPYMT on my statement last week. Anyone else dealt with this? What a headache! #fraudulentcharges