Stop Tax Identity Theft in Its Tracks

Identity TheftImagine after sending in your annual tax return, you receive a notice from the Internal Revenue Service saying that another return has already been filed using your name and Social Security number—and claiming a refund.

Sound impossible?

It can happen if you become one of a growing number of victims of tax return identity theft.

According to one estimate, tax-related identity theft cases have soared more than 650% since 2008. At the least, this crime can lead to a delay in your refund, but the consequences may be much more serious. In addition, you may face a larger problem with identify theft if the scammer is also running up credit card debt or taking out loans in your name.

To avoid becoming a victim, we recommend steps such as:

  • Safeguarding your Social Security number and other financial information;
  • Keeping an eye on changes to your credit ratings; and
  • Taking precautions with electronic transfers of confidential information.

Be sure to contact us if you believe you have been a victim of identity theft or would like advice on the best ways to secure your financial information.

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