A 30-second read by the Baron Team: It is always a good time to enhance online security and know what to do if you are a victim of tax fraud. In recognition of “Identity Theft Awareness Week”, held February 3rd – 7th, we thought it was particularly timely to re-post this blog, originally posted Jan 25th, 2018.
According to the Federal Trade Commission (FTC), tax identity theft occurs when another person uses your social security number for the purpose of getting a job or a tax refund. You will usually know when you receive a letter or notice from the IRS saying that you filed more than one tax return or see on their records that you were paid by an unknown employer.
To help prevent tax identity theft, consider these helpful tips: Remember to always protect your Social Security Number and be wary of who you give it to. If you file your tax return electronically, make sure you are using a secure internet connection, otherwise use hard mail. Do research on your tax preparer before giving them confidential personal information.
If you are the victim of tax fraud, visit the IRS website.
Feel free to reach out to your Baron Team if you have any questions.