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Tax Season Scams: Spotting Fraud And Protecting Your Identity

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Tax season can be stressful enough without the added worry of falling victim to scams. Every year, cybercriminals and fraudsters become more sophisticated in their efforts to steal personal information and financial data. Understanding how to spot tax season scams and protect your identity is essential to safeguarding your finances.

Common Tax Season Scams to Watch For

During tax season, scammers often pose as legitimate entities to trick unsuspecting taxpayers. Here are some common schemes to be aware of:

  1. IRS Impersonation Scams
    • Scammers may call, email, or text claiming to be from the IRS, demanding immediate payment or threatening arrest.
    • The IRS will never contact you via phone, email, or text for payment without first mailing an official notice.
  2. Phishing Emails and Texts
    • Fraudulent messages often contain links to fake IRS websites designed to steal personal information.
    • Avoid clicking on links from unknown senders and verify any IRS-related communications by contacting the IRS directly.
  3. Fake Tax Preparation Services
    • Some scammers pose as legitimate tax preparers to steal personal information.
    • Always research tax preparers and ensure they have a valid Preparer Tax Identification Number (PTIN).
  4. Identity Theft Tax Refund Fraud
    • Criminals may use stolen personal information to file fraudulent tax returns and claim refunds.
    • Protect your Social Security number (SSN) and file your tax return early to reduce the risk of fraud.

How To Protect Your Identity During Tax Season

Preventing tax season scams requires vigilance and proactive measures. Here are essential steps to help protect your identity:

1. File Early

  • Filing your tax return as soon as possible reduces the window of opportunity for scammers to submit a fraudulent return in your name.

2. Use Secure Methods for Filing

  • If filing electronically, use reputable tax software or hire a certified tax preparer.
  • For paper filing, send documents through certified mail to ensure secure delivery.

3. Monitor Your Accounts

  • Regularly check your bank accounts, credit reports, and IRS tax records for suspicious activity.
  • Sign up for IRS online accounts to monitor your tax transcripts and ensure no fraudulent returns are filed.

4. Verify Suspicious Communications

  • The IRS will never demand payment over the phone, threaten arrest, or ask for financial information through email or text.
  • If you receive a suspicious call or message, contact the IRS directly at 1-800-829-1040 to verify its legitimacy.

5. Protect Your Personal Information

  • Store sensitive information like your Social Security number, W-2 forms, and tax documents securely.
  • Shred financial documents before disposing of them.

6. Enable Identity Protection PIN (IP PIN)

  • The IRS offers an Identity Protection PIN (IP PIN) program to provide an extra layer of security.
  • This six-digit PIN prevents anyone else from filing a tax return using your Social Security number.

What To Do If You Become A Victim

If you suspect you are a victim of tax-related identity theft or fraud, take the following steps immediately:

  1. Report to the IRS
    • Fill out Form 14039, Identity Theft Affidavit, and submit it to the IRS.
    • Contact the IRS Identity Protection Specialized Unit at 1-800-908-4490 for assistance.
  2. Contact Your Financial Institutions
    • Notify your bank and credit card issuers to monitor for fraudulent activity and prevent further unauthorized transactions.
  3. Monitor Your Credit Reports
    • Request a free credit report from each of the three major credit bureaus: Equifax, Experian, and TransUnion.
    • Consider placing a fraud alert or credit freeze on your accounts.
  4. Seek Professional Assistance
    • Private investigators, like those at O’Brien & Associates, can help gather evidence, investigate the source of the fraud, and assist in resolving identity theft cases.

Stay Protected With Expert Support

Tax season scams can happen to anyone, but being proactive and informed is your best defense. If you suspect fraudulent activity or want to safeguard your personal information, contact O’Brien & Associates. Our experienced investigative team provides expert guidance on fraud prevention and identity protection.

Contact O’Brien & Associates today for personalized security solutions and peace of mind.

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