Tax season, fraud, theft – oh my!
Tax season is a notoriously stressful time. Between filling out the forms, paying taxes or waiting for refunds, the tax-filing process can seem endless.
What’s more concerning is that tax season is a holiday for identity thieves. Tax fraud and tax identity theft continue to be a significant problem for both the tax administration and American taxpayers alike. Whether it’s through data breaches, phishing emails, scams or simple social engineering tactics, criminals hope to obtain enough of your sensitive information so that they can fraudulently file your taxes before you do.
The Internal Revenue Service (IRS) has made great strides to improve its fraud and identity theft detection methods. Last year, the IRS caught 787,000 confirmed tax identity theft returns from entering its systems. But, fraudsters continue to find ways around these protocols, warranting increased vigilance on both the tax industry and the individual taxpayer. In short, criminals want your tax returns just as much as you do – and they’ll do anything they can to get them. Continue reading