3 ways to protect your tax refund

Sc Treasurer Curtis Loftis
Posted 2/28/19

That time of year has come: Tax season.

While you may have just started preparing your tax returns, identity thieves have been gearing up for months now in hopes that they’ll be able to steal …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

3 ways to protect your tax refund

Posted

That time of year has come: Tax season.

While you may have just started preparing your tax returns, identity thieves have been gearing up for months now in hopes that they’ll be able to steal your refund before you even get a chance to file.

Tax identity theft happens when someone files a fake tax return using your personal information.

Although tax ID theft has decreased over the past few years , the IRS still estimated that $12.2 billion in fraudulent refunds were attempted in 2016.

With an expected $300 billion to be refunded to taxpayers this year, you can expect that identity thieves will be jostling for their piece of the pie.

Here’s how thieves get your information and how you can help prevent tax fraud:

1. Dumpster Diving:

Treat your trash carefully. Tax identity thieves will go through your garbage in an attempt to search for personal information. Be sure to shred or destroy tax return and any other documents containing sensitive information.

2. Phone Scams:

Scammers will pose as the IRS to solicit your personal information via phone. The IRS will never initiate contact with you over the phone – or by text message or social media, for that matter. If the IRS needs to contact you, it will do it first by mail. If you have any doubts about who is contacting you, you can call the IRS directly.

3. Going Phishing:

Fraudsters send emails representing themselves with fake credentials or phony email addresses in an attempt to trick unsuspecting victims into revealing personal and financial information. Do not click on links or download attachments from unknown or suspicious email addresses. If you receive an email from the “IRS,” delete it immediately.

More information about tax identity theft is available from the FTC at www.ftc.gov/taxidtheft and the IRS at www.irs.gov/identitytheft .

Comments

No comments on this item Please log in to comment by clicking here