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

*Originally posted March 21, 2016. Updated December 30, 2019*

As the calendar turns to another year, businesses and individuals will soon be facing the inevitability of yet another tax season. And, while filing taxes isn’t something entirely avoidable, the risk of business tax identity theft can easily be minimized. According to the IRS Security Summit, businesses small and large are ideal targets for data thieves every tax season due to their abundance of personal information that can be used to file fraudulent returns. With ever-changing tax reform and regulations, it may be hard for your company to keep up processes while ensuring all sensitive documents are secure. Stick to the following tax preparation tips to avoid letting business tax identity theft wreak havoc on your business: Continue reading

Refund Denied: What to Do if You’re a Victim of Tax Fraud

Rejected Tax Notice

Now that April 15th has come and gone, it’s still critical for you to stay vigilant and to keep a watchful eye for any suspicious activity that may signal tax fraud.  

Fraudsters have been busy, and may have already been working behind the scenes to steal your refund. The 2018 Consumer Sentinel Network Data Book classifies tax fraud as one of the top three reported types of identity theft submitted to the Federal Trade Commission. Continue reading

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