⚠️ Axios PM: AI tax scams

Plus: Obama on the sidelines | Wednesday, March 20, 2024

Open in app View in browser   Presented By Meta   Axios PM By Mike Allen · Mar 20, 2024 Good afternoon. Today's newsletter, edited by Sam Baker, is 436 words, a 2-min. read. Thanks to Sheryl Miller for copy editing.     1 big thing: AI turbocharges tax scams Illustration: Shoshana Gordon/Axios   Tax season fraud is set to spike this year, in part because AI is making it easier, Axios' Ryan Heath reports. Why it matters: Victims of tax-related identity theft wait an average of 19 months for the IRS to correct and send their refunds. 📝 How it works: Scammers gather information about you — like pictures, addresses, employment status and other personal data — that is either publicly posted, available in legal or illegal databases, or stolen through email phishing. Then they file a fake tax return before you file your real one. AI lets these fraudsters make fakes faster and enables them to use more sophisticated techniques to defeat IRS and accounting firm security measures. 🦾 AI is particularly difficult for the IRS and tax professionals to deal with "because it is self-learning, trying techniques and failing until it succeeds," said Ari Jacoby, founder and CEO of cybersecurity firm Deduce. Go deeper.     2. 🔌 New rules may jump-start EVs Illustration: Aïda Amer/Axios   New EPA rules will push many carmakers toward more electric and hybrid models, Axios' Andrew Freedman writes. 💡 The regulations, finalized today, do not mandate more EVs. They set tighter emissions limits, and manufacturers are likely to favor more EVs to comply with those limits. 🚙 Why it matters: Transportation is the largest source of domestic greenhouse gas emissions.     A message from Meta The world faces a shortage of skilled tradespeople     Today, students at the skilled trades school RSI use the metaverse to gain hands-on welding experience and develop the exact muscle memory they need. Why it's important: Making quality training more accessible helps combat a global shortage of welders. Explore the impact of the metaverse.     3. Catch me up A U.S. Air Force B-52H Stratofortress bomber taking off from Andersen Air Force Base, Guam. Photo: Tech. Sgt. Richard Ebensberger/Pacific Air Forces Public Affairs/Smith Collection/Gado/Getty Images 🚀 The Air Force said it tested a hypersonic weapon in the Pacific Ocean yesterday. Go deeper. 💸 The Fed signaled that it may not cut interest rates as significantly as experts had anticipated. Go deeper. 🇮🇱 Israeli Prime Minister Benjamin Netanyahu spoke virtually with Senate Republicans today. Sen. Chuck Schumer declined a similar meeting with Senate Democrats. Go deeper.     4. 🏀 Obama has left the court President Obama's 2024 NCAA men's and women's basketball brackets. Source: X Former President Obama's days on the pickup court are behind him. 👟 "I have hung 'em up," Obama said on the inaugural episode of the "Ways to Win" podcast, co-hosted by his brother-in law, Craig Robinson, and Kentucky men's basketball coach John Calipari. Obama's last pickup game was in November 2016, shortly before he left office. "I played great that day. I was raining down 3s and had this spin move, finger roll for the win — I was just firing on all cylinders," he said. "And at the end of that I said, 'This is the devil talking, and the next time I play, my Achilles is going to pop and I'm going to be in a boot for six months, and I'm stopping right now. ... I have not played since." 🎧 Listen to the interview ... See Obama's NCAA brackets     A message from Meta "The more muscle memory that you have, the smoother your weld is"     Shanna Ford gets high-quality welding practice with a VR training platform powered by ForgeFX. The impact: When training is more accessible, welders can practice over and over again to improve their skills and advance their careers. Discover other stories.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: