When it is the time of filing taxes, people get conscious and at times, they commit the mistakes which can backfire on them. You can get hit by the tax identity theft easily during the tax season. This is something where you need to be prepared ahead of time.
You need to keep a complete check over the identifications and the record of finances is essential during this time. During the year of 2016, there were high complaints from the consumers about tax identity theft.
Many people also said that their information was stolen for the purpose of fraudulent activities. Those activities which they did not know of but because of the identity theft, there were held with the conviction. You have to take the measures of cybersecurity during the tax season. There can be variety of ways through which the identity can be exposed.
Know about Identity Theft First
When random people are able to access the personal information (full name, SSN, address, phone number, credit card information) and misuse it. There can be identity theft even through the insurance company of your healthcare services.
You are present on social media networks and various accounts where you have the information entered. These are just other types but the most common and popular one nowadays is the tax identity theft.
Attaining your Information
Tax identity theft is when the person who attains your information is able to file the taxes without your knowledge. The taxes are filed with the main department of IRS and you do not know of it. There can be rejections upon your tax information as they would not be knowing the exact amounts.
It could lead to doubts for IRS which can be dangerous for you when you have not even done anything. Sometimes, people do not even get the funds through the taxes and they keep on wondering what has happened. IRS stops the process for the person and may even ban it because of the wrong information.
Not Aware of Scammers
You would not be aware of the entire thing and may be sitting at home wondering what has happened when you filed the taxes right.
Well, you will be able to identify the tax identity theft through the help of the professional accountant. The professionals know when your information is being used and for what purpose. They have different sources in their records which help them to know the insights.
They are able to protect you through different measurements in which they are experienced. You can get help from the accountant at any time where you feel that you are not able to cope up with the taxes and its matters.
Preventions to Take
You have to keep the measurement of prevention aligned so here are some of the tried and tested ways to avoid tax identity theft.
Before you know it, get ready to file the taxes. When you do it immediately, there will not be any chance for the criminal to misuse your information because the original form already reaches the IRS before time. You have to know the exact date of taxes so you can start prespring for it ahead of time.
Get the alerts of the credit card reports to your email or your living address. View them and compare them with the expenses you have actually made. Keep the record so that you are able to avoid any discrepancy in the accounts. Make sure you check it once in a month and report any activity which is suspicious to you immediately.
If you are someone who is going to file the taxes online/electronically then prefer to do it on your own Wi-Fi connection. Never use the public Wi-Fi network to sign in at any account whether it is through the laptop or your cellphone.
No one is able to detect your passwords unless they know the secret questions to your accounts. You have to keep it protected and make sure to do the work when you are in isolation.
Make sure you take all the necessary precautions which you think are suitable when you are working online. There are scammers all over and if you work out of the ordinary then you will surely get caught in their scam. Work wisely and do not share much information online to stay protected from the tax identity theft.
