File Taxes Early to Avoid Tax Fraud and Identity Theft

Get Ahead of Tax Fraud and Identity Theft 

Filing your taxes can be a pain, but dealing with tax fraud and identity theft can be even worse. As we scramble to compile our W-2s and file our returns by the April deadline, we often forget that tax season is also considered open season for identity thieves. 

Many of last year’s large-scale data breaches (like Equifax and Alteryx) have already given identity thieves a leg-up in the tax fraud and identity theft game. These breach events exposed a multitude of personal and financial information that experts predict will be used to fraudulently file tax returns this year. 

Fraudsters also effectively cover their bases by using a variety of tax-related scams that play on a victim’s fears. Scammers hope they can convince you to hand over personal and financial information to be used in other crimes. 

What should you look for? What can you do? Find all the answers to your tax crime-related questions concerning your personal information, the scams targeting you and best tax-filing practices.     Continue reading

How to Prevent Top-3 Tax Scams of 2017

Don’t get caught in a scam! 

Tax scams come in all shapes and sizes. From phone calls to phishing emails, and even by your own tax preparer, criminals are continuing to find new ways to scam you out of your money and personal information. Tax-related scams can be particularly threatening because the information stolen is often used to commit more serious crimes such as tax identity theft

Follow us as we explore the top-3 tax scams to watch out for this year.  Continue reading

Combating Tax Identity Theft: The IRS and the Taxpayer

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

Want to Keep Your Small Business Going Strong? Avoid Tax Identity Theft

Business Tax Identity Theft_March 2016

Among life’s inevitabilities, taxes are firmly planted — with income taxes becoming a permanent fixture in the U.S. in 1913. It was then that the 16th Amendment to the Constitution was created, giving Congress legal authority to tax the incomes of both individuals and businesses. 

With that single requirement grew many guidelines (updated regularly by the Internal Revenue Service) — along with numerous tax-related risks that could threaten to close your business, tax identity theft tops the list. Dealing with this profusion of factors can seem chaotic to any small business owner. But while taxes are inevitable, business tax identity theft doesn’t have to be. Stick to these tax basics to avoid business tax identity theft from wreaking havoc on your small business.  Continue reading