Tax Season Scams and Identity Theft Red Flags, Plus a 401(k) and IRA Rollover Lightning Round

Jan 26, 2026

Sam Taube, an investing expert on retirement accounts, joins to break down rollovers, target-date funds, and the mega backdoor Roth. They cover when consolidation makes sense and pitfalls to watch for. The conversation also highlights tax-season scams like phishing, smishing, fake sites, and practical steps to protect your identity.

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ADVICE

Initiate Contact With Your Card Issuer

When alerted about possible fraud, call the number on the back of your card instead of following links.
Initiate contact to verify charges and avoid impersonator links or texts.

ADVICE

Use A Pause To Spot Scams

Pause before clicking or acting to let your guard come back up.
Delay checking suspicious items until you're attentive to spot red flags.

ADVICE

Ignore Government Impostor Calls

Ignore IRS or government imposter calls that demand personal data or payment.
Hang up, block the number, and verify with the official agency if concerned.

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Protect your identity from tax-season scams and learn when 401(k) and IRA rollovers make sense.

How do you roll over old 401(k)s and IRAs? And is a mega backdoor Roth worth the hassle? Hosts Sean Pyles and Elizabeth Ayoola answer listener questions about retirement account rollovers, including when consolidation can help and how to avoid common missteps. But first, they kick off Identity Theft Awareness Week (and tax season) with a refresher on how you can protect your data, including pausing before you click or pay, updating passwords and tightening account security, and recognizing common scam tactics like fake websites, IRS impostors, smishing, and AI-powered impersonation.

Then, investing Nerd Sam Taube joins Sean and Elizabeth for a lightning round all about retirement account rollovers. They answer listener questions about whether to roll over and consolidate multiple old 401(k) accounts, whether a mega backdoor Roth is worth the hassle and potential tax complexity, whether consolidating multiple IRAs is likely to boost returns or mainly simplify finances, and whether rollover IRAs have the same bankruptcy and creditor protections as 401(k)s.

Links discussed in this episode:

Report fraud through the FTC: https://reportfraud.ftc.gov/
5 Low-Cost Target-Date Funds for 2026 https://www.nerdwallet.com/investing/learn/what-is-a-target-date-fund-and-when-should-you-invest-in-one
Mutual Fund Calculator: Growth and Fees https://www.nerdwallet.com/investing/calculators/mutual-fund-calculator
Best IRA Accounts for 2026 https://www.nerdwallet.com/retirement/best/ira-accounts

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In their conversation, the Nerds discuss: tax season scams, identity theft, phishing scams, smishing, gift card draining, fake websites, IRS impostor scam, government impostor scam, emergency scam, bogus debt scam, employment scams, AI scams, voice cloning, deepfake scams, data breaches, mail theft, public Wi-Fi risks, password updates, credit report monitoring, billing statement review, Federal Trade Commission, reporting fraud, 401(k) rollover, IRA rollover, consolidating retirement accounts, legacy 401(k)s, target-date funds, expense ratios, mutual fund screener, after-tax 401(k) contributions, employer match, mega backdoor Roth, Roth conversion, pro-rata rule, taxes on investment gains, conversion limits, managed accounts vs self-directed investing, robo-advisor investing, beneficiary organization, bankruptcy protection, creditor protection, and rollover IRA protections.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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