Keep Yourself Safe From Tax Identity Theft

We are officially in tax season. It’s the time of year where millions of Americans are gathering all of their financial documents and are getting ready to file their taxes. Make sure you keep yourself as safe as possible from Tax Identity Theft. 

Tax Identity Theft is when someone uses your personal information in order to file a fraudulent tax return in your name and claim your refund before you can file your tax return. Common signs of tax identity theft are:

• Rejected tax returns: You go to file a tax return but it is rejected, with a notice saying that a return has already been filed. 

• IRS Notice: You get a notice from the IRS about suspicious activity, such as multiple returns filed using your SSN or income from an employer you don’t recognize. 

• Unexpected Refund or Balance Due: You receive a refund or notice of a balance due for a tax year that you didn’t file a return. 

Resolving tax identity theft can be a time consuming and complicated process, but there are ways to keep yourself and your identity secure. 

• Guard Your Personal Information:

Keep your information secure by shredding documents that have personal information and only giving out your SSN when absolutely necessary and make sure you have strong passwords. While it may be a pain, enabling 2 factor authentication when you can can help protect your identity as well.

• Be Wary of Phishing Scams

If you don’t know the source, don’t click on links or download attachments, they could be phishing scams, and clicking the link can give them access to personal information. REMEMBER: the IRS won’t initiate contact via email, text, or social media and request sensitive information. Be cautious if you receive unsolicited contact requesting personal or financial information. 

• Use Secure Methods To File Taxes

Make sure that if you are filing electronically that you are using a secure and reputable software or work with a trusted tax professional. If you are filing by paper, mail your return directly from the post office. 

• Monitor Your Accounts and Credit

Review your credit reports and IRS tax account to make sure there isn’t any suspicious activity. 

• Stay Informed

Stay informed on the latest scams and tactics that are being used by regularly checking the IRS and other reliable sources. 

• Respond Quickly To IRS Notices

If you receive a notice about a suspicious return or any other issue, respond immediately, as it can help mitigate the impact of identity theft. 

Keep yourself safe this tax season.