Consumer Catch-up: Costco scam alert, middle class gap, many will owe taxes

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A Costco scam local officials are warning about - the information the scammers want. Plus, a new report says a big chunk of Americans will OWE taxes at the end of this year. (KGO-TV )

Costco scam warning

Scammers are using the good name of Costco in an attempt to rip you off.

The Contra Costa County District Attorney's Office says people pretending to be from Costco are calling local residents.

The callers offer a $500 Costco Travel Credit or Costco Cash Card if the resident takes a survey.

The survey asks for personal information that can then be used to commit identity theft.

U.S. middle class falling behind

The American middle class is no longer shrinking, but it continues losing ground financially to upper-income families.

That's according to a recent study by the Pew Research Center.

About 52% of Americans are middle class. That is down about 10% from 1971.

An analysis finds the income gap between the well-to-do and lower and middle income families is the largest ever recorded.

The median income for middle class households is about $58,000. Upper income median is $175,000.

Many Americans may owe taxes

There is a very good chance you will owe taxes at the end of this year.

A report by the government accountability office, the GAO, says taxes for 30 million Americans are being under withheld by their employers.

That adds up to about one in five people.

This follows the Republican re-write of the federal income tax code.

It put more money in the pocket of many employees. Come next year, though, the government will reach into many of those pockets and take some of that money back.

The IRS has a calculator showing how much should be withheld. You can check it out here.

Click here for a look at more stories by Michael Finney and 7 On Your Side.

Web copy written and produced by Miranda Dotson
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